Chesapeake Energy Position Adjustment Update Create Covered Call – 15% potential return

OPTION  WHEEL IN ACTION

STRATEGY: Sell cash secured put, get shares, create covered call, REPEAT…OPTION WHEEL

Adjustment NEW ALERT : SELL CHK March $5.50 Covered Calls @$0.60 for each 100 long shares to lower cost basis to $4.85

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CHK shares were assigned at $5.70 from the November option sale to buy stock at major discount. http://www.bullseyeoption.com/trade-alert/new-trade-alert-october-28th-chesapeake-energy/

A December covered call was sold for $0.25 to lower basis to $5.45.

This March rally presents the opportunity to sell a covered call to again lower cost basis to $4.85.

15% return if called out at expiration March 18th.