A few minutes ago I reported that I sold 1 of my 50 contract Calls on U.S. Steel. Well, I just bought back my 2nd Call with another “Buy to Close.” Yesterday I sold the Call for a 40¢ premium for a total of $2000. I just bought that Call back for 10¢. After bringing in $2000 it cost me $500 to close the deal. Another great deal for a 1 day trade. This deal is over! Here’s the “Sell to Open” and the “Buy to Close” orders:
Sell to Open 50 X 2/10/17 $36 C @ 40¢ (+$2000)
Buy to Close 50 X 2/10/17 $36 C @ 10¢ (-$500)
Profit +$1500
I’ll look to sell more Calls on my U.S. Steel shares tomorrow. Lets hope for a bounce to get another good premium.
So far I locked in $2250 since yesterday. This money is in my mattress!
Steve
The Options Coach