Sold 5 RH Calls
I reported that I bought 500 Shares of RH last week at $131. I was trying to get a Call sold earlier this week but the stock pulled back a bit. Today with the stock up I was just filled on a 5 contract 4/24/20 $131 Call. I placed the order this morning with a Strike Price of $131 for a premium of $2. This gave me $1000.
Sell to Open 1 RH 4/24/20 $131.00 C @ $2.00 (+$1000)
This is a Covered Call on a good stock so the trade gets a Risk Factor 1.
Today I was filled on 2 more trades. I bought 500 Shares of Occidental Petroleum (OXY) at $12.80.
Buy 500 Shares of OXY @ $12.80
I also bought 1 RH LEAPS. I plan on holding this a while. This position is on the long list of LEAPS on my Active Trades page.
Buy to Open 1 RH 1/21/22 $125.00 C @ $47.00
This position has a great Delta of .69. My position will go up 69¢ for every $1 move in the stock. Once this coronavirus BS is over I think RH will be at $200 in no time.
Successful Trading,
Steve
The Options Coach