Last week I did a “Buy-Write” with Micron (MU). After going well above my Strike Price the stock dropped back and closed on Expiration day right on my Strike Price of $32. With the stock closing on the Strike Price it’s always unsure if You would get assigned or not. In this case I didn’t get assigned and I still own the stock. The stock opened lower today but bounced up a little and I was just able to sell 20 contracts of the $32 Calls expiring this Friday. I received a premium of 50¢ for a total premium of $1000. When I sold the Call the stock was at $31.85. This trade is a Covered Call on previously own stock so it’s a Risk Factor 1.
Sell to Open 20 MU 7/28/17 $32.00 C @ 50¢ (+$1000)
I didn’t get my Week Ending Results done yet. It was a very busy weekend with back yard activity and coaching basketball. I’ll get it done before the end of the day.
Steve
The Options Coach