About 3 hours ago I sold 15 contracts of the Facebook (FB) $111.00 Calls. At the opening FB was up over 109 and I sold the 1 week Call to bring in $1 on 1500 shares. The total premium was $1500. FB dropped back a little and the $1 premium came down to $.45. Since I still had a week before this option expires I decided to buy my way out of this option and put some money in the mattress. I sold the Call for $1500 and bought back for $675 for a 3 hour profit of $825. Here’s the closing order:
Buy to Close 15 FB 3/4/16 $111.00 C @ $.45
Total profit +$825
Money in the mattress
If FB shoots back up today I will sell another Call, if not, I’ll see what Monday brings.
I also sold a Call on NFLX today and brought in $1000. If that drops back to the point where I can get out making $500 I will. Stay tuned!
Steve
The Options Coach