Earlier I posted that I sold 30 contracts of the Micron (MU) 1/6/17 $22.50 Calls. In that post I said I was trying to get executed on buying 3000 shares to make that Call a Covered Call. Well I just got executed on buying the shares for $22.45. Now that I have a Covered Call, my trade of selling the Call has it’s Risk Factor move from a 5 to a lower Risk Factor of 1. Here’s the stock buy order:
Buy 3000 shares MU @ $22.45
I hope MU stays above the Strike Price of $22.50 and I get assigned on the shares when the Call expires.
Steve
The Options Coach