Retirement Income

Stocks and Options

March 26th, 2009 at 7:37 pm

BP plc (ADR) (BP) – Sold Apr09 Calls

On 3/23/09, I sold 5 BP Apr09 45 Covered Calls for a new deposit of $238.25.  My basis for these BP shares is now 62.22, excluding dividends received.

 Even though I am underwater with these shares right now I really like BP for the dividends and option premiums.  I consider them part of my core holdings and desire to keep them just as long as possible.  They are my only play on oil right now which I think is something that everybody should have.  Oil is down now but it just cannot remain so in the long run.

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