This morning I opened the week owning 1500 shares of RH. A few minutes after the opening bell the stock went up to $104. When it was up I placed an order to sell 15 contracts of the 2/2/18 $106 Calls for a $2 premium. As soon as I hit send I was executed on 12 contracts, leaving 3 contracts open. The stock took a turn down and went all the way down to below $101. I’m still waiting to get executed on the other 3 contracts but the stock’s gonna have to come up a few dollars. Getting executed on the 12 contracts did bring in a premium of $2400. If I get the other 3 I’ll have a total premium of $3000. Let’s watch and see what happens.
Sell to Open 12 RH 2/2/18 $106.00 C @ $2 (+$2400)
I also bought 1000 shares of Skechers (SKX) at $40.80. I put in an order to sell 10 contracts of the 2/2/18 $41 Calls for a 75¢ premium but I’m still waiting to get executed. Hopefully I’ll get it today. A 75¢ premium for a $40 stock is very nice for a 1 week option. I’ll let you know as soon as I get executed.
Buy 1000 Shares SKX @ $40.80
Steve
The Options Coach