We accepted shares of Sonos (SONO) last week. I was waiting for a bounce to recommend a call to sell, and we are getting one today.
Note that this recommendation is only for people who already own shares of SONO uncovered from a previous position.
Current Stock Price: $32.13
Cost Basis: $36.90
Action: Sell to open the SONO Oct Monthly (10/15) 33 Call
Current Option Price: $0.46-$0.52
Recommended Limit: Set your initial credit limit at $0.49, but adjust as needed to sell a call today
New Cost Basis: $36.41
Expiration: After the close on Friday, Oct. 15
Potential Rate of Return: I am targeting breakeven for this position