I sold a 10 contract Call this morning on Weight Watchers (WW). The stock dropped back a little so I decided to Cover the Call by buying 1000 shares of the stock at $29.98.
Buy 1000 Shares WW @ $29.98
I now own the shares to deliver at my Strike Price of $31 if needed. The Call brought in $500. If the market continues to move up and I get assigned I’ll make a little over $1 on the stock sale. Could be a nice 3 day deal!
Successful Trading,
Steve
The Options Coach