Position called away

My position in GRA was called over the weekend. My total return on the covered call trade was 7.5% for 32 days.

This is the first of my covered call trades that I have held to expiration. The lesson learned is to let the plan work, and not bail out early. The early bail increases the cost in commissions and time premium paid for. If the stock is down at expiration, another call can be sold, or the stock sold at that time and the proceeds reinvested.

So today I have cash to reinvest. The plan is to put some of the lessons I have learned to use to pick the next position.