I picked up 1000 shares of UNG at $39.60 and sold the August 40 calls at $1.25. This represents a return of 4.17% return in less than a dozen days if I get called and a 3.2% return if I don’t get called. Using Buy/Write strategy, I profit from upswings by automatically liquidating my position(s) [e.g. getting called] and I profit from down swings by letting my call options expire worthless and keeping the premium.
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