Hi Main Street beats Wall Street readers. As you probably noticed I haven’t been making too many trades lately. I mentioned in a post my intentions to reduce the amount of trades I make because of schedule problems, especially my basketball schedule. I’m also trying to do a few things before the summer is over. In fact, I just returned from a trip to Burlington, Vermont. If I have any readers from that area, that is one beautiful city! For anyone who was never there I highly recommend a visit. It located right on Lake Champlain. We had great weather! I don’t know if I want to go during the winter, very cold, but the summer weather is fantastic!
I did not do a week ending results post this week because I didn’t make any trades last week. However, I will do one soon because I just made a trade, but it doesn’t expire for 12 days. I owned 2000 shares of Micron (MU) and I bought another 500 share on 8/16/17 because I heard a good report. Today with the stock up 80¢ and at $31.10 I just sold a $32 Call. I sold 25 9/8/17 $32 Calls and received a premium of 40¢ for $1000. This is a Covered Call so it gets a Risk Factor 1.
Sell to Open 25 MU 9/8/17 $32 C @ 40¢ (+$1000)
I hope everyone is doing well. Keep studying and be careful.
Steve
The Options Coach