With about 5 minutes to go in the trading day I made 2 trades. For my 1st trade I sold 2000 Shares of Micron (MU). I bought the stock on Monday at $29.93. After I bought the stock it took a little dip and I wasn’t able to get a Call sold. Today the stock was up $1.37 and I was up 50¢ on my 2000 shares. You know I love take profit so I sold the stock with a $1000 profit. The reason I sold is with only 2 days left in the week I couldn’t get a decent premium. Plus, even with the NASDAQ up today I didn’t like the candlestick chart on MU. The stock has been riding below the 8 day Moving Average and came down to the 50 day Moving Average. I figured, let me grab some profit and free up some margin money and get into something else. With RH flying high I bought another 500 shares. Earlier in the day I did a “Buy-Write.” With this new 500 shares I wanted to sell a Call and have another Covered Call but I received a phone call right before the close and I didn’t get the order in. I just got off the phone. Thats why I’m a little late writing this post. Hopefully the stock will go up tomorrow and I get the Call sold. Here’s the Sell order for MU and the buy order for RH.
7/3/17 – Buy 2000 Shares MU @ $29.93
7/5/17 – Sell 2000 Shares MU @ $30.43
Profit +$1000
Buy 500 Shares RH @ $28.00
Steve
The Options Coach