On Friday our position in a Square (SQ) covered-call option contract (strike: $270; expiration: 30APR2021) was closed on our standing limit order. We netted $103.63 on the trade over just three days. We also sold a contract to replace this covered-call option position with a contract expiring on the same date with a strike of $265.
We have the extra 25 shares in the tax-advantaged and I’d like to liquidate our SQ shares in the taxable account via covered-call option. The plan is to maximize the profit on our current exposure and establish less exposure in an account that is not liable for tax on our gains.