I bought a position with Facebook (META) in June. I bought 1 META 1/17/25 $510 Call for $62. I bought this position with the stock in the $510 area. META has been active lately with an upward trend. This morning the stock popped at the open so I decided to sell the position. With this political landscape you never know what might happen. Holding a long Call position can get scary. One large dip and the stock might not recover before expiration. I ended up selling the position for $70 for a $800 profit.
6/12/24 – Buy to Open 1 META 1/17/25 $510.00 C @ $62.00
8/22/24 – Sell to Close 1 META 1/17/25 $510.00 C @ $70.00
Profit +$800
This is about a 13% gain for the 2 month position.
Later in the day the stock pulled back a bit. I still like the stock so I decided to buy another Call with the lower price. With the stock in the $530 area I bought 1 contract of the META 6/20/25 $530 Call for $82. Notice this expiration goes out to June. I sold my January Call for a $800 profit and bought another Call going out to June. This position gives me a lot more time protection.
8/22/24 – Buy to Open 1 META 6/20/25 $530.00 C @ $82.00
I’m still waiting for META to possibly announce a split.
Any questions send me an email.
Successful trading,
Steve
The Options Coach