Wells Fargo Call Writing Just Got Attractive

Wells Fargo Call Writing Just Got Attractive by Mark D. Hines, Blue Harbinger Research If you are a long-term income-focused investor, Wells Fargo continues to pay a big attractive dividend (3.4%). And the contrarian in you may even be considering buying more shares after it took another beating from Congress yesterday for its fake-account-opening scandal (it’s now down 12.7% this month versus down 0.7% for the S&P 500 on a total returns basis). But what you may not have considered is the sharp jump in premium for writing Wells Fargo covered calls, and how this is a relatively low-risk options…