I might be driving you nuts with emails but there’s a lot going on and I must report my moves. But I’ll be quick.
AMD has been hanging around the $32.75 area for a while. I have a $33 Call expiring tomorrow, the 2nd leg of my Triple Play Hedge. Earlier I sold the shares that covered this Call making a $450 profit. It looked like the stock would continue to drop, and it might, but I feel safer being covered. It was down to $32.42 and came back up. I just jumped back in at $32.75. If it get to $33 by tomorrow I’ll get assigned and make $250. If it doesn’t, I’ll keep the stock to cover the 3rd let of my position which is a $33.50 Call.
Buy 1000 Shares AMD @ $32.75
I know my Triple Play Hedge can be confusing for Grasshoppers. If you have any questions send me an email.
Now that I’m covered I feel like I can leave the computer for a little while.
I know a lot of my trades only seem like a few hundred dollar gains but they add up. My profit this week will be well over $3000.
Steve
The Options Coach