Zion Oil & Gas Inc (ZNOG)

[Moses1492]

Option update: Buy ZN at 32 cents and make back 47% profit selling either Jan or March covered $1 calls which are on the bid still at 15 cents w/ask of 20 cents. OR if you don't want to miss out on the profit of ZN potentially going to $2 lol, you can sell Jan or March covered calls for 10 cents on the bid (31% profit). Selling covered calls reduces your net costs of holding ZN shares by 30-50% and you get to keep all the profit up to the exercise price. Remember, you don't have to buy them back at all! If they expire worthless on their exercise date you just made free money and you get to repeat the process all over again and make another profit selling new covered calls!