With Square (SQ) moving up a lot lately. And bringing in a lot of premiums. I decided to bail out of SQ for the time being and lock in some profit. Right now it at an all time high and I’m afraid of a pullback with some profit taking. I got in SQ at $54.70, made a lot of profit with premiums and just jumped out at $59.80. With the stock sale alone I have a profit of $2550. In addition to this I probably sold Calls about 7 or 8 times since I bought the stock in March. I think this $2550 profit is a nice way to start a week.
3/14/18 – Buy 500 Shares SQ @ $54.70
6/4/18 – Sell 500 Shares SQ @ $59.80
Profit +$2550
When I jumped out of Square I bought another 500 shares of RH. The stock is down from last week and I think it’s at a good price right now. I bought 500 shares at $100.40. I’ll watch it today and see if I’m ready to sell a Call.
Buy 500 Shares RH @ $100.40
As Murphy’s Law would predict since I made these 2 trades SQ is up a little from where I sold and RH is down a little from where I bought. lol….Not to worry! I hope!
Steve
The Options Coach