$CPB
CPB Covered Call
Submitted View on X
Strategy
Covered Call
Entry date
Oct 6, 2026
Net
$16.00 debit
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Legs
| Action | Qty | Expiry | Strike | Type | Premium |
|---|---|---|---|---|---|
| Buy | 100 | - | - | Stock | $19.14 |
| STO | 1 | Sep 17, 2027 | 18.00 | Call | $3.14 |
Supporting documents
Trade thesis
$CPB buy-write 🍲
Buy 100 @ $19.14
STO Sep 17 ’27 $18 call
Net debit: $16.00/share ($1,600)
Called away at $18 → +$2.00/share = 12.5% in 11.4 mo ≈ 13.2% annualized
+ 3 quarterly dividends at the new $0.25 rate ($0.75) → another 4.7%
Max total: 17.2% ≈ 18.1% annualized
Breakeven $16.00 = 16.4% downside cushion from the $3.14/share of call premium.
CPB 72% off its $68 high, 5.25% yield. The September dividend cut (first since 2001) is why it’s this cheap. Paid to wait.
