OPENING (IRA): UAL APRIL 17TH 70 MONIED COVERED CALL... for a 66.40 debit.
Metrics:
Max Loss: 66.40 (assuming the stock goes to zero)
Max Profit: 3.60
Return on Capital at Max: 5.42%
Break Even/Cost Basis In Shares: 66.40
Notes: Selling nondirectional premium in the margin account, (See Post Below), but looking for a quickee dirtee in the IRA. The natural alternative is to sell the 70 put, paying 3.50, with a resulting cost basis of 66.50.
