Trade - 4/13/09 - BBT

STO (3) Covered Calls - BBT May 09 @ $25 for $0.50 each. Net Premium $144

BBT has had a nice run up. I originally bought my 300 shares at $27.50 but through selling CCs and NPs my basis is now less than $20. This CC strike at $25 will be 20% above todays price and still give me a premium of 2.4% this month so I am going to go ahead and take it. Additionally I have already captured the $0.47 dividend this month for another 2% this month.

I can't believe how much I like covered calls. That is 4.4% for 1 month!