With the debt ceiling debate defining the market this week, we are seeing price action up and down across the Perpetual Income stocks. Here are the first of several trades we can make today and tomorrow.

COVERED CALL

Blackstone (BX):  82.66

We’ve had a couple of up days followed by several flat days of trading in Blackstone stock. Let’s get back to selling covered calls.

ACTION:  Sell to open BX 9 Jun 88 call for around 1.00 to 1.04

COVERED CALL

IBM (IBM): 126.50

IBM stock is making a slow recovery … slow enough that we can sell a covered call now. No news in the stock but the stock is moving with the market at this time.

ACTION:  Sell to open IBM 9 Jun 129 call for a net credit of around 1.00 to 1.05