A little earlier I put in an order to buy 1000 shares of Facebook (FB). While I was working on “Main Street beats Wall Street” I was executed. Along with Amazon, FB is also a hot stock. I previously owned 1000 shares which I bought for $113 and I’ve been selling Calls on them for a few weeks. I never got assigned so I keep selling Calls! I have a Call on these shares again expiring this Friday. With FB in the $120 area I decided to buy another 1000 shares to sell more Calls for Friday. I got these shares for $119.90. I’m watching how FB moves and hopefully I’ll be selling a Call on these shares today to expire Friday. I’ll post when I sell the Calls. Here’s the order to buy the 2nd 1000 shares:
Buy 1000 shares FB @ $119.90
Steve
The Options Coach