3 Contract Covered Call with Square
Square (SQ) has been moving similar to Bitcoin the last few weeks, ; up and down with big swings. With the market up today, and 1 day until Friday’s expiration, I just bought 300 shares of SQ at $266.75 and sold a 3 contract Covered Call. I sold 3 SQ 4/16/21 $267.50 for a premium of $3.50 for $1050.
Buy 300 Shares SQ @ $266.75
Sell to Open 3 SQ 4/16/21 $267.50 C @ $3.50 (+$1050)
The trade gets a Risk Factor 1.
I made this trade about 45 minutes ago. I also started writing this post at that time. My writing was interrupted for a very good reason. The New York City Fire Dept. was live streaming their promotion ceremony. My son, and Main Street beats Wall Street’s contributing writer, Stephen Cunningham Jr was promoted to Fire Captain. At the age of 37 this is a great accomplishment.
The only reason I wasn’t there live is because of COVID. The ceremony was limited to the members being promoted only.
I cannot tell you how proud me and my family are of this very special young man.
Congratulations, Captain Stephen Cunningham!
Successful trading,
Steve
The Options Coach