On Monday, March 14th I sold a Call on NFLX. I sold 10 Contracts of the NFLX 3/18/16 $101 Calls @ $1.50 (+$1500). With the stock at $100.85 and the market rallying into the close I just bought back the Calls. I paid $.08 (-$80). I paid $80 to get out of the deal just in case NFLX makes a move above the Strike Price of $101. I really didn’t want to lose the stock. This deal is over and I keep the stock. I’m thinking the market is moving pretty well and I wanted to be holding the stock on Monday morning in case of a pre-market move. I’m hoping to sell another Call on Monday. I bought the stock at $97.95 and it’s at $100.85 as I write. I like where I stand with this 1000 shares plus I put the premium of $1420 in my mattress. I sold the Call and brought in $1500 and paid $80 to get out for a profit of $1420. Here’s the buy order:
Buy to Close 10 NFLX 3/18/16 $101 C @ $.08 (-$80)
If you have any question on this option or my strategy email me.
Have a great weekend.
It is 3:53, 7 minutes to close. I’ll send this out exactly at the close to let you know what NFLX closes. I love Expiration Day!
NFLX closed at $101.12
I would have lost my stock! I bought the call back at $.08 so I keep the 1000 shares.
Steve
The Options Coach