Impartially looking at this, I will say that the calls for Feb, March and April are so cheap for $11. So the best play is to buy naked calls, to sell puts, and sell existing stocks.
Last Dec, I had huge number of puts accumulated, but had to clear them to generate a huge loss so as to offset a huge gain from the flipping of real estate properties. It was a pain to see quite a bit lost with closing the puts early since majority of the closed sold puts could be at the breakeven point by now.
Maybe this quarter is different. The real estate bidding war is raging on. You see a price hike of 30k plus in the last few months already. The effect will be seen by April this year.
I have about 20K shares that I have been buying and selling over the past 5 yrs.
I am still upside down a bit, but the past two years been selling calls and managed to make about a 21% return each year.
It has been a very painful few years with this stock, yet I remain optimistic there will be a decent turnaround. Nothing as dramatic like $30 per share, but I can see $18 per share in a couple of years. Uneducated guess mind you.
When the interest rates rise and E gets through some of the loan runoff, I hope they get back in the loan biz....making conservative loans to QUALFIED borrowers. Brokerage biz will continue to be competitive to the point that I don't really see a ton of growth. Tech available from all the online brokers is relatively the same....E has nothing that will allow them grab a significantly bigger share of the market. Diversification in the biz will be the ticket to higher share price....not sticking with the core biz. For now, they have no choice but sticking with the core biz.