Stocks are trading higher after last weeks’ sell-off. Let’s start managing a few of our open and uncovered positions early this week. Here we go:

OPEN NEW CALL

Cardinal Health (CAH):  56.87

Our 20 May 58 call expired worthless on Friday. Cardinal doesn’t go ex-dividend until 6/30 and we can sell a covered call today.

ACTION:  Sell to open CAH 3 Jun 58 call for a credit of around 0.60 to 0.65 and a 1.1% return.

OPEN NEW CALL

ONEOK, Inc. (OKE):  64.18

We took assignment of OKE stock over the weekend. We can sell the Jun monthly option for a nice credit.

ACTION:  Sell to open OKE 17 Jun 67.50 call for a credit of around 0.85 to 0.90 and a 1.3% return.

Look for additional trade alerts today and tomorrow.