Options Trade – GSK PLC ADR (GSK)

Funny thing happened to me on Friday when I tried to roll my covered call from last month? I was making the trade with my GSK PLC ADR (GSK) shares and had to roll over the March 15, 2024 contracts to the April 19, 2024 contracts. Here is the original trade:

• Sold: 10 March 15, 2024 Calls
• Strike Price: $42.00
• *Premium Collected: $670.00

Here are the two rolls I tried to place several times during the day:

• Roll to: 10 April 19, 2024 Calls
• Strike Price: $42.00
• *Premium Requested: *$1000.00

or

• Roll to: 10 April 19, 2024 Calls
• Strike Price: $43.00
• *Premium Requested: *$500.00

Both trades failed even though the quoted market prices at the time showed these trades should have worked – really reminded me why I don’t do credit spreads anymore – always feels like you are being forced to chase the price down to below where it should logically close.

Anyway, GSK was a very profitable hold for me so I don’t have any regrets letting the shares go at $42 – my original entry was *$30.50 per share, so I did very well when you factor in the options trades and dividends collected.

Looking for a new Value / Dividend Stock to take a look at on Monday – open to any suggestions, I am not finding many options.

*Excludes transaction costs.