The longest call option I’ve ever sold, 228 days, has expired worthless. I was hoping LEG would climb from $13.95 to $15.00+ so that the shares would be called away and the position could be closed at a profit. It got as high as $14.24 and closed at $9.69 on Friday. The recent sell off is likely the product of tax loss harvesting, but I would not rule out a concerted effort on the part of big money to take out Royal Dividends. That’s right, I said it. Time to acknowledge that I’m going to be in this for the long haul, and accordingly, get more aggressive.
Selling to Open: 3 March 21, 2025 $12.50 Call Options [Symbol: LEG250321C12.5]
Limit Order Price: Credit of $0.40 per share
The last covered calls brought in $448.46 and this time I’m hoping for just $120.00 before commissions, and at a lower strike to boot. LEG needs to climb above $10.00 to trigger this order, so it may have to work for a bit. LEG needs to get off the schneid.