Micron opened today down but a little while ago it started moving up. As is was moving up I did a “Buy-Write.” I bought 2000 shares at $31.77 and sold 20 contracts of the 7/21/17 $32 Calls. I received a 30¢ for $600. 30¢ for a $31.77 stock is a little under the 1% I look for with a 1 week trade but MU is a great company and I think this trade work out good. A “Buy-Write is a Covered Call so this trade gets a RiskFactor 1. I would like the stock to continue up and get assigned.
Micron Buy-Write
Buy 2000 Shares MU @ $31.77
Sell to Open 20 MU 7/21/17 $32 C @ 30¢ (+$600)
Steve
The Options Coach