Sell Marathon Oil (MRO) Stock Position
On Friday the Marathon Oil (MRO) November 16.5 Call that we sold for $1.01 expired worthless, as oil stocks came under pressure.
Today, MRO stock is up 2% along with its oil stock peers. We are going to take advantage of today’s stock gains to exit this stock position for a small loss, so we can move this capital into a fresher idea next week (reminder: tomorrow is one of our two weeks off per year from publishing Profit Booster).
Of note, despite selling our stock position today, you will receive your dividend in the coming weeks.
Finally, if you would prefer to continue to sell calls against your stock position you might look at the December 16.5 call (exp. 12/17) for around $0.40 (I will not be executing this trade).