This morning I did a 10 contract “Triple Play Hedge” on Micron(MU). I bought 1000 shares of the stock and sold 3 Calls. With the NASDAQ down and Micron up a little I decided to buy another 1000 shares of MU just in case I need them to Cover my second Call of the “Triple Play Hedge.” The second Call has a Strike Price of $31 and I bought the shares for $30.75. I love Micron and I would recommend the stock to anyone if you’re a stock investor. I’m an options trader! Not too often do I buy stock just to hold. If I did, Micron would be on my list. Here’s the buy order:
Buy 1000 Shares MU @ $30.75
Any questions send me an email.
Steve
The Options Coach