I love the stock Micron! The stock has been moving up for a while now on good earnings and high ratings. You might ask, why did you sell a Naked Call if you love the stock? The reason I did is I thought it would pull back a little today. And on the pull back, I would try to grab a little profit. Well, yesterday I sold my Call for 25¢ and this morning the stock came down a little and I did a “Buy to Close” at 10¢. I know it’s not much! But on the 20 contracts (2000 shares) it was a 1 day profit of $300. I’m having trouble finding deals I really like this week, so I have to nip away, grabbing small deals to get to my $3000 goal as per my “2017 Challenge.” If Micron drops a little more I might do an At-the-Money, Buy-Write Covered Call. Here’s the “Sell to Open” and “Buy to Close” orders:
Sell to Open 20 MU 3/10/17 $26 C @ 25¢ (+$500)
Buy to Close 20 MU 3/10/17 $26C @ 10¢ (-$200)
Profit +$300
Making small deals to get to my goal will raise my commission cost. I’ll have to try to get to $3500 this week to get back some of my expenses. We have to try hard to lower business expenses or make a little more to cover them!
Steve
The Options Coach
So what is cost? Your site?
Hi Rex, I teach basketball to high schooler and I teach stock options to who ever wants to learn. I do both completely free, options for whoever wants to read. None of my reader’s money will ever go into my pocket. I make money trading options. PERIOD! I hope I can help you make some money. Keep studying and be careful!
“You cannot live a perfect day without doing something for someone who will never be able to pay you back.” – John Wooden
Steve