Inseego (INSG)

Main Street beats Wall Street’s loyal readers know I’ve been involved in Inseego (INSG) for a while now. My most recent trade was on 6/30/20 where I sold a 10 contract long LEAPS I’ve been holding. I bought the 10 contracts at $2.60 and sold them at $4.60 making a $2000 profit. I still own another 20 contract Call which is listed on my “Active Trades/Current Positions” page.

INSG has been in the news recently as a big 5G play. Yesterday the stock started to move out of it’s $10 – $12 range. Today it’s up oner a $1, close to 10%.

Yesterday I was trying to do a Covered Call, but the Call at the premium I wanted was not filled. I bought 1000 shares at $12.75 and I was trying to get filled on a $12.50 Call for a premium of $2. INSG does not have weekly options so I was using the 8/24/20 Expiration Date. I was doing an In-the-Money Call for the premium only. I’m happy I wasn’t filled because the stock is on the move again today because it’s getting a lot of attention. At the moment I might just watch the stock and see where it could go. If it goes a little higher I might try to sell the $15 Call.

I never reported the buying of the stock because I was waiting to get filled on the Call to report the 2 trades of the Covered Call on one post. It never happened so I’m reporting the buying of the stock now.

Buy 1000 Shares of INSG @ $12.75

I would like to make a lot more trades with INSG but they don’t have weekly options. And weekly options is my strategy. I’m hoping they will have them soon.

If I go for the 8/24/20 $15 Call I can get over a 10% return for the premium only. That isn’t bad for the 24 day trade. If I got assigned on this Call I would make another $2.25 on the stock sale for $2250. This would be a nice 24 day trade. I’ll let you know if I decide to sell the Call,

Successful trading,

Steve

The Options Coach