Opened CAL covered call

I've opened a covered call on CAL for $19.96 cost on the stock and $1.92 premium on the March call option with a strike price of $19.

My covered call scan, posted over the weekend, had three airlines: CAL, JBLU and AMR.

This morning AMR rose and the potential premiums had declined. JBLU's premiums had also declined.

March Covered Calls

I've analyzed the highest-volume 200 stocks priced between $5 and $20 to identify some reasonable covered call prospects for March. This week is prime time for the covered calls that expire March 19.

This time around I used fundamentals as a screening tool, something I haven't done so much in the past. But with the broad market having broken out of it's uptrend, I've gotten more cautious about owning shares that might head south, sticking me with yet another zombie position.

For this scan, I used the InvesTools scoring method for both the financials. There are many other ways to do it, whether you look at the trend of quarterly earnings or analyst rankings on one of the free finance sites, or some other method that gives you a comfort zone.

Altogether I came up with 11 possible trades, and I like six of them a lot.