UNH: collect $480 (1.2%) premium for this covered call with strike at $390.
Contract expires in 2 weeks on 7th Nov which spans over earnings on 28th Oct.
Sold the new call at higher strike than the expiring one to cater for more upside in exchange for lesser premium collection during earnings period.
$390 Strike is near 200 days MA which should provide some resistance for price actions.
Eventually would look for UNH to break out higher above 200 days MA but don't think it will be immediate unless the upcoming earnings is really amazing and blow out profitable.
The wall of worries on UNH were all still there so think the chances is low.
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Sell Open | 4.80 1Lot(s) | -- Closed |
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