Sold a Grasshopper 2 contract Call with Skillz (SKLZ) against previously owned stock. And sold a 1 contract long LEAPS I owned with Nvidia (NVDA).
I bought 200 shares of SKLX on 6/7 and sold a Call. I was not assigned. Today I sold another Call. The stock dropped a little so I went out to 7/2/21 with the Expiration Date to get a better premium.
Skillz
6/7/21 – Buy 200 Shares SKLZ @ $22.70
6/17/21 – Sell to Open 2 SKLZ 7/2/21 $23.00 C @ 45¢ (+$90)
A few weeks ago NVDA announced a 4:1 stock split. Some of you were asking if I was going to play the split with LEAPS. ON 6/8 with the stock at $696 I bought 1 $700 LEAPS. Today the stock popped about $40 so I took profit on my long position. I’m thinking the stock might pull back on the big up day so I can get back in. If not I’ll be buying more LEAPS very close to the split date of July 19th. But for now I locked in $3000 on my split strategy.
Nvidia
6/8/21 – Buy to Open 1 NVDA 11/19/21 $700.00 C @ $72.50
6/17/21 – Sell to Close 1 NVDA 11/19/21 $700.00 C @ $102.25
Profit +$3000
Any questions on this leaps strategy send me an email.
Successful trading,
Steve
The Options Coach