We have been exercised in our covered calls on Newcrest Mining on March 16th and since then we have been evaluating options and waiting for an optimal entry time.
Trades
Buy (Share)
Security: NCM
Price (AUD): 20.26
Date: May 09th
Sell (Call)
Security: NCM call
Price (AUD): 0.68
Date: May 09th
Strike: 20.50
Expiration date: May 26th
In case of being exercised on this option, we expect to get a 4.70% return over the course of only 18 days. If the option expires worthless, we may write another call and ensure more cash flow.
We will be releasing a new report, as soon as we decide to do any other moves regarding this trade.
Our Australian portfolio has gone up by almost 20% since inception, late last year.