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Linn Energy, LLC (LINE) Message Board

  • lesspheus lesspheus Nov 11, 2013 2:01 PM Flag

    Selling Jan calls?

    I am considering selling covered calls against my 12,800 shares to pick up a little extra change. I want to sell January calls so that just in case my stock gets called I do not have the gains in this tax year and the April calls are too far out for me. Preferably my stock will not get called away as I want to keep LINE for income.

    I'm looking at the Jan $37 calls to sell for 5 cents. I want to keep my shares, but it would still be nice to get a little kicker. Given the higher buyout price for BRY is it a safe bet that LINE will stay below $37 through January? I will not sell anything $35 or under as I see risk that LINE could get up to $35 fairly easily.

    Yeah, I know that a nickel doesn't sound like much, but that is 2.5 cents per month and 10% bonus on top of the dividend. A 10% dividend raise is a big deal, so why not add that bonus myself?

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