I just got into the passage seat giving my wife the wheel. We’re driving up to Boston. This is not exactly where I want to be during rush hour on a hot Friday afternoon.
Before I left home I sent out a post reporting the selling of a 10 contract Micron (MU) Naked Call. The stock is looking so good I decided to cover the Call before I got on the road. I bought 1000 shares of the stock at $45.50. I wasn’t gonna Cover until the stock got close to my Strike Price, but I figured I might as well make $500 on the stock if assigned. It’s a $46 Call so I think it will hit that before next Friday. For the Call I received a $600 premium. If I get assigned I’ll make another $500 on the stock. That would be a nice $1100 in 1 week. The premium of $600 alone is a return of 1.3%. This fits into my “1 Week/1% strategy.” If I get assigned the return will be 2.4%. These types of returns will set anyone up with a great retirement.
Buy 1000 Shares MU @ $45.50
I have a lot more to write but I’ll probably wait until I get to the hotel. I want to write and explain another position I’m in with Micron. The Diagonal Bull Call Spread. I’ll also have the week ending report to write.
I feel like I’ll be trading a lot. You will be getting some good info in the next few weeks. I hope some of you are learning and making a plan on how you can join in on making some money in the market.
Enjoy the weekend!
Steve
The Options Coach