Bausch Health Companies Inc (BHC)

[JLS]

fini ...

I want out of this thing called BHC! At a profit, of course.

Wanted out before earnings release next week but it isn't cooperating.

So, noticed that this thing trades a lot of the time above $23, and is currently trading a tiny bit above $23, but is likely (based on history) to drop an unknown amount soon after earnings release even if BHC beats earnings which I'm expecting it to do -- the crazy thing! My effective cost of shares (prior to today) after accounting for previously selling CCs is $23.47.

I just sold next weeks $23 Calls for $1.19. That reduces cost of shares to $22.28. If assigned, I have a nice profit (of $0.72) since entering the initial trade via a Buy-Write on 04/26; and if not assigned, my net cost of entry is lowered by the $1.49 derived from selling CCs twice (once upon entry and now).