As with my earlier post on a SKLZ covered-call option contract, yesterday, I rolled a covered-call option contract for Square (underlying ticker: SQ; strike: $260; expiration: 25JUN2021) out and up. The SQ call was more profitable to close out: we netted $93.63 on the contract (89% of the premium) over 21 days. SQ shares are up more than 3% this morning and would need to appreciate just another 5.7% to reach the $260 strike of the contract we closed three days early.
Our new covered-call position expires in three weeks (and two trading days) with a strike of $290; 11.5% higher than the strike on the option we closed today.