We have a few minutes before the close and I was looking for a stock that has been moving very well lately. I’m looking to take advantage of some good prices but I want a stock that’s on a roll but down today only because of the Brexit news. The stock I picked, which has a very nice looking Candlestick Chart is Yelp (YELP). I decided to buy 2000 shares to give me a total of 3000 shares. Earlier I bought 1000 shares at $28.40 and this 2000 shares I paid $28.25. My average price is $28.30. I feel YELP is going to move nice next week. Let’s see if I’m right! Here’s the buy order:
Buy 2000 shares YELP @ $28.25
I’m waiting for the close before I hit sent on this massage because YELP is going up into the close and if it goes over $28.50 I’ll lose 1000 shares to assignment. I have 10 contracts of the YELP $28.50 Calls expiring at the close. The stock is backing off so I will not get assigned and Monday I’ll be holding 3000 shares.
What an exciting day! Have a nice weekend!
Steve
The Options Coach