Bought More Microchip Calls

A few days ago Microchip (MCHP) announced a 2:1 split to take place on Oct 12th. I bought and sold 2 Calls on the announcement making $1160. The stock pulled back and is down over 2% this morning. With the stock at $155.50 I just bought 2 contracts of the MDHP 1/21/22 $155 Calls for $13.

Buy 2 MCHP 1/21/22 $155.00 C @ $13.00 

You will see me in and out of Calls until the stock splits. I go out to January with my Expiration Date for protection against Time Decay. I pay a little more but I like the protection!

Let’s see how this one works out.

 

Successful Trading,

Steve

The Options Coach