Out of My NVDA Covered Call

I sold a 10 contract Call against the 1000 shares I previously owned about an hour ago. This volatile stock was up $40 and backed off. As I write the stock is up $26.

When it was up $40 I sold a 10 contract Call bringing in a $6 premium for $6000. With the stock pulling back I just did a “Buy to Close” to close the position. I paid $1.70, a total of $1700. I was in the position 1 hour. I brought in a $6000 premium and closed the position for $1700. That’s a $4300 profit in 1 hour. This is a great start to the week.

9/14/20 – Sell to Open 10 NVDA 9/18/20 $570.00 C @ $6.00 (+$6000)

9/14/20 – Buy to Close 10 NVDA 9/18/20 $570.00 C @ $1.70 (-$1700)

Profit +$4300

Who knows where it goes from here. Up or down I put $4300 in my mattress. I would like to see the stock go back up and I get another Call sold. I have the whole week for this to happen.

Successful Trading,

Steve

The Options Coach