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WFC Changes This Week

|Includes: Wells Fargo & Co. (WFC)

This week I wanted to add exposure to the WFC Covered call that i legged into the put the week before. (portpro) So i purchased a covered call at 33.60 for the October 36 dollar put. This was nearly the same as the written put calculator on Exigo default settings, and I wanted to get more closely aligned with pro. Now on WFC I am in the straddle fully at porpro strikes for 500/1000 exposure to WFC at $33/$36.

I am a bit underexposed at 41.6% portpro, but another 100/200 brings me overexposed at 50%. Goal is 44%. This is tempting as i like the strategy, and premiums are good.


Disclosure: I am long WFC.