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Barchart
Barchart
Mark R. Hake, CFA

ConocoPhillips Stock Jumps - Time to Sell Covered Calls in COP?

COP Conoco ConocoPhillips Barchart OTM Iran

ConocoPhillips (COP) stock is up over 3.0% today due to the Iran war turmoil. It could be time for existing shareholders to sell out-of-the-money (OTM) covered call options, given the 2.48% one-month yield for 5.5% higher strike prices.

COP is at $117.03, up $3.54 (+3.2%) today,  up $15.24 (+15%) from $101.79 from Feb. 2. As it stands, COP stock now has a 2.87% annual dividend yield. 

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