Closed GPS Covered Call with +$111 Profit (12.33% yield in 21 day)

On June 5, 2020, our 100 shares of GPS  were called away at the strike price of $9.5

We established this position on GPS stock on May 15, 2020, by buying 100 shares at $9 per share, a couple of days later we established a covered call position, and did one additional roll forward and roll up to exit this trade with 12.22% yield in 21 day

This is yet another good example of how covered calls help generate income. We closed this trade with a $0.61 premium plus realized a value gain of  $0.5. Total $111 or 12.33% return from our $900 investment in just 21 day.  Probably our joy would be bigger if we were selling 10 contracts at a time, but every bit counts. 

Selling Covered Calls and puts with GPS stock
Selling Covered Calls and puts with GPS stock
  • Running Total  12 Trades since May 1, 2020
  • Trade P/L $168

We are looking to buy/write more covered calls with GPS in the future. Might open a new position in the next week.