I’m moving and shaking today. I’m getting ready to hop in the car to drive to Boston, but had to get a trade in. lol. Right now I’ll be short but I have some writing to do on a trade I made yesterday. I’ll get that done within the next few hours. If you look at my Active Positions you’ll see a position named “Diagonal Bull Call Spread.” It’s not that complicated but it will take some explanation. This Diagonal Bull Call Spread was done with Micron (MU).
The trade I just made as I’m getting ready to leave my house is a Naked Call, also with MU. I sold 10 contracts of the $46 Call to expire next Friday. I received a premium of 60¢ for $600. It is Naked at the moment but I plan on covering next week if needed. With MU being such a hot stock, I’m going to place a “Buy Stop Limit” order now because I’ll be away from my computer for a while. I’ll place the buy order at $45.80 but I don’t think it will hit that today. I’ll place it for protection in the case of a big pop going into the weekend.
Sell to Open 10 MU 7/26/19 $46.00 C @ 60¢ (+$600)
I’ll be writing about my Diagonal Bull Call Spread in a little while from the car. I guess my wife’s gonna have to do some driving. lol
Steve
The Options Coach