Yelp has been on a roll lately! It just dropped down to $37.80 and I bought 5000 shares. The stock can have a little pullback but I’m going to try to get a $38 Call sold for a premium of $.80. However, If the stock moves up $.20 I might jump out with a quick $1000 profit. I’m watching the stock with one eye as I write this. If it hits $38, I’ll make a decision to sell the 5000 shares for a nice profit or sell the Call. Here’s the buy order:
Buy 5000 shares YELP @ $37.80
Steve
The Options Coach