Sold My MU July Call Option

I’m staying pretty busy. I would say I’m back!

A few days ago, on Tuesday the 27th, I bought 2 Micron (MU) 7/19/24 $92.50 Calls for a premium of $9.70. As I was writing my last post about buying the AMD Call I was filled on an order I placed to sell this Call. I placed the order to sell at $12 and it hit.

 

2/27/24 – Buy to Open 2 MU 7/19/24 $92.50 C @ $9.70

3/1/24 – Sell to Close 2 MU 7/19/24 $92.50 C @ $12.00

Profit +$460

 

With this position I invested $1940 and I sold for $2400 for a gain of $460. This is a 23.7% return for a 3 day trade. Again, this is the power of options.

I know after today these gains (percentages) have your chops drooling. BE VERY CAREFUL!

On all of the Calls I’m selling I still have plenty of time left on the contracts. The lesson is to take profits! I do not know what is going to happen over the weekend. I can alway get back into a position. However, if the stock drops on Monday I might have to wait a week or 2, or 3, for the stock to recover.

 

Successful trading

Steve,

The Options Coach