With 15minutes left to the trading day and GPRO announcing earnings after the close I just sold Calls on 10,000 shares I own. GPRO hasn’t been moving good lately and I don’t feel optimistic about a good report. I decided to sell the Calls to get a little insurance in the case the stock goes down further. I bought the 10,000 share for $16.70 and I sold the 1/20/17 $17 Calls and got a premium of $.30 ($3000). I’m hoping the report is good and the stock goes up. If not I’ll be holding the shares for a while and hope for a possible takeover. This is a Call on previously owned stock so the Risk Factor is a 1. Here’s the order:
Sell to Open 100 GPRO 1/20/17 $17 C @ .30 (+$3000)
Steve
The Options Coach