We have two stocks that have remained uncovered for a month or so. Both have enjoyed five or more days of trading higher, allowing us to sell covered calls.

COVERED CALL
IBM (IBM): 132.17

IBM has traded higher for the past week, giving us an opportunity to sell a covered call. The company will announce earnings on April 19, which has elevated the premiums at the April 21 monthly options expiration.

ACTION: Sell to open IBM 21 Apr 136 call for a credit of around 1.70 to 1.75 for a 1.3% return.

NEW MEMBERS: Those who do not own IBM stock can set this trade up as a buy-write. Buy shares at market and sell the IBM 21 Apr 136 call.

COVERED CALL
Southern Co. (SO): 71.37

Southern Co. is our lone utility income play. Generally, utilities act as defensive stocks during market sell-offs. But in the past month, utility stocks have begun to hold their prices and trade slightly higher.

Southern Co. has been on an eight-day uptrend. The company is expected to announce earnings around April 21, elevating the April 28 option premiums.

ACTION: Sell to open SO 28 Apr 73 call for a credit of around 0.75 to 0.80 and a 1% return.

NEW MEMBERS: Those who do not own SO stock can set this trade up as a buy-write. Buy shares at market and sell the SO 28 Apr 73 call.