Sold 40 Peloton Calls

Earlier I reported that I did a “Buy to Close” with my Peloton Calls. The stock was dropping and I was able to lock a lot of the premium. Doing this to a 20 contract gives me the opportunity to sell another Call if the stock recovers. Well the stock is recovering.

I also have another 2000 shares available for a Call that expired this past Friday. This gives me a total 4000 shares I bought at 134.12 available for Call.

With the stock moving back up I placed an order to sell 40 contracts of the PTON 1/22/21 $160 Calls for a premium of $1.25. I was just filled on that order. It gave me a total premium of $5000 and the Call expires this Friday.

Sell to Open 40 1/22/21 $160.00 C @ $1.25 (+$5000)

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I also have another 1000 shares of PTON I bought last week to cover a 10 contract Naked Call. I had a $170 Call sold but I did a “Buy to Close”earlier. These 1000 shares are also available to sell a Call against. I bought these shares at $167 so I have an order in to sell 10 1/29/21 $170 Calls for a premium of $1.60. I’ll let you know if I get filled.

I own a total of 5000 shares of Peloton. 10 contracts will expire next week if I get filled, but I have the 40contracts expiring this Friday. This is going to be another very good week. I just hope I get assigned on some of my positions.

Successful trading,

Steve

The Options Coach