Options Trade – SPDR Energy ETF (XLE)

To lower my overall cost for XLE – sold 10 Feb Call Contracts (57 Strike) this morning:  *Premium Collected: $1,100.00

This lowers my overall cost per share to about $52.95 – considering the direction of Oil, I feel this is a sensible move.  If Energy spikes – I have sold my upside beyond $57.00 per share – but I don’t think that is going to be an issue short term.

*Profit/Loss calculations exclude transaction costs.