I was completely out of RH because they were announcing earnings this week. The stock is very volatile and since I’m having such a great year I didn’t want to gamble when that financial news came out. We all know this stock can make big moves either way. As most readers know I got out of my RH position with a very nice profit. After the earning came out the stock really didn’t move much. It just started moving again. I held out a little longer than I should have, but I’m back in now. I just bought 1000 shares at $105.99. I might try to sell a $107 Call expiring tomorrow. If the stock moves up a little I think I’ll be able to get $1 for a $1000 premium. If I get that and I’m assigned I’ll also make $1000 on the stock sale. That wouldn’t be bad for a days work.
Buy 1000 Shares RH @ $105.99
Watch for my post selling a $107 Call.
Steve
The Options Coach
not a bad days work, nice way to make a living at some point.
MU pulled back about 15% last week, into this week.
A couple days ago I Sold $42.50 Weekly Puts for $1.50 premium.
MU is at $42.90 now but has been as high as $43.20
I am thinking about buying back my $42.50 Puts before the market closes today to lock in most of my profit. Is my thinking sound ?
But to make a few more $$ (hopefully), I Sold $42 Puts for the same week ( expire EOD tomorrow) for $.20.
My hope is that before the end of today, MU price will pop up and I can buy back my first Puts using the proceeds of the $42 Puts.
We will see what the afternoon brings.
I just saw your massage now. I had basketball yesterday and left the market early. I hope you’re still holding that position with MU. The NASDAQ is moving nice and MU is up .90 to $44.10. I’m holding my 1000 shares.
I did buy back my $42.50 Put for $.18 but I held onto my $42 Put which paid a $.20 premium. So my Net premium is going to come out even.
I never would have Sold the $42 Put if I was going to hold the $42.50 Put through expiration.
MU is still moving as you point out. Plotting my next profitable move.
Thank You