OPTION WHEEL Trade Alert June 7th – SDRL adjustment sell covered call

OPTION WHEEL IN ACTION – 14% potential return

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

NEW ALERT Adjustment: SELL SDRL July $4.00 Covered Calls @$0.25 for each 100 long shares to lower cost basis to $3.50.

SDRL shares were originally assigned at $3.75 from the May option sale to buy stock at major 15% off discount. http://www.bullseyeoption.com/trade-alert/new-trade-alert-may-2nd-seadrill/

Today’s rally presents the opportunity to sell covered call for $0.25 to lower cost basis once again now to $3.50.

14% return if called out at expiration July 15th.