If you are a regular reader of “Main Street beats Wall Street” or you take a look at my Active Trades, you are aware on 7/15/16 I sold a Naked Call LEAP on Gopro (GPRO). This is a 10 contract Call with the Strike Price of $15. In the last few weeks the stock has been up as high as $17.70. Since my Strike was $15 this had me a little concerned. In the last few days the market has been down a bit. Today with GPRO down in the $14.50 area I decided to take advantage of this low price and cover my LEAP. I think GPRO will have a nice holiday season so I’m happy I had the opportunity to cover. I put in the order for 1000 shares at $14.47 and I was executed. This was a Naked Call, now with this purchase it’s a Covered Call and it gets a Risk Factor of 1. Here’s the buy order:
Buy 1000 shares GPRO @ $14.47
I started a new page this week. The page is called All Trade Confirmations. It’s located in the drop down box under “My Positions.” This page will list all my trade confirmations to show Grasshoppers how a trade works, plus it will serve as a reference page to look back on my trades. It will remain there as long as the position is active. And maybe a little longer.
Steve
The Options Coach