BELFB - Sold some Sept $45 calls today on the run-up. Still holding about 80% of my position uncovered by calls, haven't sold any actual shares. Bought back some of my sold May $30 puts, will let the rest expire.
I may start selling some Sept $50 calls if it keeps moving higher up to a 50% covered position. Will look for premiums in the $2.50 range there to sell.
The multiple here is 6.2x trailing EBIT, so still relatively cheap. Fair value is closer to 8.0x - 8.5x in my opinion ($53 - $58 per share).
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