CSCO Covered Calls in my IRA

I put a limit order in to sell covered calls on Cisco (CSCO) back on October 23rd in my IRA. While CSCO was trading at 33.03 my order for three December 35 covered calls hit and I received 257.74 after commissions.  I’m still trying to wean myself from selling options in my IRA, but see no reason to pass up easy cash flow for a strike price so far out of the money.

I bought my 300 shares at 31.40 and wrote about it last week.  If I can make $3.60 from stock growth and $0.90 from premiums in less than two weeks I’d be ashamed for not taking that and running.  CSCO usually doesn’t move that much that quickly without a pull back somewhere soon after to give me a re-entry point.  Through in that it’s in my IRA and I don’t care about taxes.

On another note, I just noticed that I finally have a Google Page Rank.  Yes, I’m among the many who came before me now.  I came in with a decent rating (for a 6 1/2 month old blog written by someone without a clue seven months ago) at a page rank of 3.  I actually don’t know what it means overall and probably shouldn’t worry about it too much since this is just a hobby for me.  Maybe it’ll help bring some advertisers in for me.  I just hit the $100 mark for Google Adsense revenue so I’ll get paid next month.  That’s cool, I can pay for my hosting with that.

Last other random thought.  I had another interview today.  I’m sick of interviewing and only have two months left on my contract so I need to pick something soon.  I think I’ll pursue this one more.  It’s a good company and I liked the people I met.  I’ll be moving away from project management and back to recruiting which has its plusses and minuses.  I think I’ll be able to perform well as a recruiter again, continue investing and continue blogging although both will have to take a back seat for my focus as I change industries.  I’ve enjoyed the past 6 1/2 months of writing this blog as I trade.  I’ve met some cool people too and that’s always a good non-financial bonus. If I can get four to five years of solid income in while my wife continues her career ascent  we’ll have enough invested that I could actually consider investing full time and not take a pay cut.  You never know, maybe I’ll even have more revenue from the blog by then too.  The dream is getting closer!