It's September 30th and there are a number of things happening in the markets today. One being the US government may out spend on its current budget cap. Midnight the spending stops and a ton of departments could see zero funds and it'll start tonight at midnight (Eastern). Also today I collected another dividend from Encana (ECA).

ECA has been trading lower this past week and is under $18 and sits firmly at $17.80 today. The question is will Encana drop below the $17.50 support level? If it does, I am able to buy another 100 shares of ECA if it reaches $17.24.

With todays dividend of $101.65 sitting in my account I have received YTD on dividends of $304.80 and $1001.28 for the covered call options for a total of 1306.08. As a percentage, it works out to 13.63% so far this year. Not a bad return.

Currently I have a covered call with the strike price of $19 dollars and this expires on the 3rd Friday of October. The current premium has declined to +64.63% since its approaching the 75% mark I'll be looking to close this option trade and re-write further out to collect additional premiums hopefully before the new ends.


I'll keep you posted on my next option move for Encana in the next 3 weeks or it maybe earlier, we'll see.

If you have any questions drop me a note. till then happy trading.