I have had a decent run up on a small long position in DuPont (DD). It is up 5% in 6 weeks and I figured I would sell at $34 if it hit that target. It went past there and fell back to $34 so here is what I did.
I sold the Feb 10 $34 strike calls for $1.00/contract. Therefore, if they are exercised by the expiration date in February, the profit in this set of transactions is $2.50/sh + $1.00/sh = $3.50/sh.
$3.50 profit per share/$32.50 original cost per share = 10.7% profit in less than 2 months
I will take that any day of the week. If the $34 strike call does not get exercised, I will sell another call for the March 10 expiration. In the meantime I will likely pick up a dividend of another 1%.