Square Covered Call

Square (SQ) is one of the hottest stocks on the market right now. And it just came out with great earnings and outlook because of the online shopping.

I bought 500 shares at $153.25 and sold a 5 contract Call. I sold the 8/7/20 $155 Calls for a premium of $3 for $1500.

Buy 500 Shares of SQ @ $153.25

Sell to Open 5 SQ 8/7/20 $155.00 C @ $3.00 (+$1500)

SQ is on a crazy run today post earnings, up 12% as I write. I’ll be buying LEAPS within a few days.

All of my trading is able to be done because I work on margin and my account is really growing. When I get this many positions going I really hope for assignment on most to free up the money and lock in the profits. The rest of this week will be very interesting. If the week continues on the same pace this week will be a very good one. But, no counting chickens yet, still have a few days!

Successful trading,

Steve

The Options Coach