We executed a trade today we hope will be highly profitable. We purchased XOM at $103ish and sold the January 20 2023 $105 strikes for $4.00. Our hope is to be assigned at $105 in January which would yield us over 5 percent return in a little over 30 days.
We’ve been sitting in cash for a long time and will continue to do so but this trade represented too juicy of an opportunity for us. We wouldn’t mind holding XOM long term anyway so to get it theoretically under $99 seems like a bargain. If we get called away, we’ll be happy with the 5 percent return.
Stay tuned, stay profitable, and stay solvent.