About a half hour ago I sold a 50 contract GPRO 9/23/16 $17 Call. I brought in a premium of $2000. With GPRO very volatile today I put in a order to “Buy to Close” that position. That was just executed! I am out of that Short Call. I sold for a premium of $2000 and I just got out for $1000. That’s a quick $1000 in a half hour. I’ll take it! Here’s the sell and buy back orders:
Sell to Open 50 GPRO 9/23/16 $17 C @ $.40 (+$2000)
Buy to Close 50 GPRO 9/23/16 $17 C @ $.20 (-$1000)
This is a $1000 profit and it in my mattress!
I love deals like this, but to do this you must be near your computer. With this kind of return I have no problem being near my desk. If the stock goes back up where I can sell it again, I will!
Steve
The Options Coach