April 17, 2020 - MDT Alert (KEY)

Today, I would like to make a suggestion on a stock that reported yesterday.

It is Keycorp (KEY).

KEY does have weekly options and I am going to suggest a weekly covered call.

Buy KEY at the market, which is $10.72.

Then Sell to Open (1) April 24th - $11.00 call for every 100 shares you own.

These are the calls that expire next Friday or in one week.

You should be able to sell them for $0.32.

If the calls are assigned next Friday, the return will be 5.6%.

KEY is oversold and if the calls are not assigned next week, I will look to sell another round of them.

Based on the tracking portfolio, limit the stock buy to 500 shares or 5.4% of the portfolio.

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