Sold another LEAPS with Inseego

I just did a “Sell to Close” on a 10 contract LEAPS with Inseego (INSG). This is the second LEAPS I sold to close today. Earlier today I sold a Long LEAPS with Marvel. Please read that post to get my feelings about buying and selling options. Sold to Close a 10 contract Marvel LEAPS.

This INSG LEAPS I just sold was a 10 contract position that I got into on 1/29/20. I was in this position 5 months. A little longer than normal but on an investment of 2600 and my Return on Investment (ROI) is 77%.

1/29/20 – Buy to Open 10 INSG 1/21/22 $10.00 C @ $2.60

6/30/20 – Sell to Close 10 INSG 1/21/22 $10.00 C @ $4.60

 Profit +$2000

When I entered this position it was a 20 contract LEAPS. I sold 10 of the contracts on 6/1/20. At that time I sold for $4.70. I felt INSG would go a little higher but it actually came down a little. You can read the post of me selling the first 10 contracts at Sold Some of My Inseego LEAPS.

For the entire 20 contracts I brought in a total of $4100 on a $5200 investment. This money is going directly into my mattress!

This is another great example of the power of LEAPS.

Successful trading,

Steve

The Options Coach