TEVA closed trading Friday at $45.63.
- Last weekend one lot of shares was called away via the assignment of the April $45 calls at an effective price of $45.41
- Near the market close today, CCI sold the $45 May calls for $1.38 after commission. If the stock stays above $45 for the next 3 weeks the final lot of Teva shares will be called away for an effective price of $46.38. In theory there is about a 60% chance of this happening.. If the stock reverses back down this month, this option premium will provide up to a 3% downside hedge.