Covered One of My PTON Calls

I have 2 separate 10 contract Naked Calls with Peloton (PTON). I sold a $135 Call and a $140 Call, both Naked. Today the stock is moving up again. In fact it went up above my $135 Strike Price. On a pull back I decided to buy 1000 shares to cover this $135 Call. I placed an order to buy 1000 shares at $132.50 and I was just filled on that order.

Buy 1000 Shares PTON @ $132.50

Now I have a 10 contract Covered Call, and a 10 contract Naked Call, with the Strike Price of $140. Both expire in 2 days.

At this point I hope the stock goes above $135 so I get assigned on that Call, but I’d like it to stay below $140 so I don’t have to cover this Call and have it expire.

Successful trading,

Steve

The Options Coach