TRADE IDEA: NVAX COVERED CALL

I'm already in a similar trade, but NVAX keeps on giving with high implied volatility rank and high implied volatility.

Metrics:

Buy shares at 6.99
Sell Oct 21st 7 call
5.10 db at the mid (off hours; it may naturally look a touch different at NY open)
$190 max profit if called away at $7 (a ridiculous profit figure for a $7 underlying)
ROC: 37.3%

Alternative: Look to just sell premium using the Oct 21st expiry. For example, the 5 short put is currently bid .75/ask 1.15. Even the bid ($75) is stupid rich premium here ... .

coveredcallNVAXoptions-strategy

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