Covered Call Initiated With Eli Lilly (LLY)

by | Apr 27, 2021 | Covered Calls | 0 comments

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The stock market reacted negatively to Eli Lilly’s earnings report today pushing the share price down 2.7% at the close. That price action led to Eli Lilly passing one of my screeners so I bought shares at $183.18 and then sold OTM May-21 $185.00 calls for $2.94 giving me potential trade returns as per the table below. Eli Lilly hasn’t announced its next dividend date but news sources suspect it will be May 16 which is before the call expiry date.

For trade management, I entered a buy-to-close order for the calls at $0.58 which is good until May 07.

Eli Lilly Covered Call

Eli Lilly Stock Price Chart

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