With Square at $167 I just sold a 10 contract $177.50 Naked Call to expire Friday. I received a premium of 65¢ for $650.
Sell to Open 10 SQ 10/30/20 $177.50 C @ 65¢ (+$650)
This is a Naked Call, but it’s $10 Out-of-the-Money, so I give this trade a Risk Factor 3. I see COVID causing some volatility for a while. I don’t see Square getting to my Strike Price by Friday, but you never know! I’ll watch it closely.
Successful trading,
Steve
The Options Coach