We hold a 200-share tracking position with a cost basis of 23.79.  With GDXJ stealing up on a Hidden Pivot target at 26.14, let’s sell two May 26.73 calls short if and when the target is closely approached.  You should shoot for around 85 cents per call on the sale. We are doing this covered write to effectively take a partial profit without exiting the position.  (Click here for information about the upcoming Hidden Pivot webinar and a coupon good for a $50 discount.)