Good morning all! Today is Monday March 7th. I just woke up in beautiful Ft. Lauderdale, Fla. After enjoying 5 days at Daytona Bike Week I drove south with a few friends to hang a few days in my old stopping grounds. We arrived here Saturday afternoon and I’ll be flying out today. I’m back at my desk tomorrow morning.
Last week on Friday the 26th I sold 10 contracts of the NFLX $101 Call to expire 3/4/16. I received a premium of $1 for a total of $1000. On Monday the 29th NFLX took a little dip and the premium dropped to $.25 so I bought the Call back. I sold the Call for $1000 and I bought back for $250 for a profit of $750. I’m very happy the way this worked out because I really didn’t want to lose the stock because it’s lower than where I bought. Here’s the “Buy to Close” order:
Buy to Close 10 NFLX 3/4/16 $101 C @$.25 (-$250)
Weekly profit $750
Money in the mattress
Read the link below:
Steve
The Options Coach