No. of Recommendations: 1
Re: covered calls,
I did something similar and was surprised how quickly the calls were exercised. You can always use the cash to buy back some shares and pocket the premium, but I'd say the $370 stand a decent chance of getting called away. If that's an acceptable result, or you are looking at selling some shares anyway, than the trade can make sense.
You should make sure you're happy with both scenarios:
1) You sell this call, the stock price languishes for 2024, and you don't get to sell the stock at $362+
2) You sell this call, the stock price rises above $400, and your shares are called away. Maybe Berkshire makes a move for a large acquisition this year causing the stock to be elevated for a long time
