We are closing the covered-call position on Thomson Reuters Corp. (TSX: TRI, NYSE: TRI) that we opened on Aug. 9. Although our intention had been to hold the short call position through its expiration on Nov. 18, the option price has declined sharply over the past few days, thereby providing an opportunity to lock in a substantial gain in a short period of time.

The current asking price is C$0.36, for a profit of 35% over the price at the time of initial recommendation. Buy to close the November 18, 2016 call on TRI with a strike price of C$58.00 at C$0.36 or lower.