Back into SPY — Covered Call at 111

I created a covered call position with SPY for a net investment of 108.43 per share,   bought SPY at 110.298 and sold Feb 111 calls  ( SPY 02/20/2010 111.00 C in Schwab speak) at 1.87.    I sold out of the money calls because I’m pretty optimistic the market will retrace the recent drop-off. Best case profit would be 2.57 per share or 2.3%. …

Read moreBack into SPY — Covered Call at 111