Earlier I reported that I did a Triple Play Hedge with UAL. I bought 1000 shares and sold 3 Calls. 1 of the Calls is Covered and the other 2 are Naked. I just did a Buy to Close with 1 of the Naked Calls.
4/17/20 – UAL 4/24/20 $30.00 C @ $2.05 (+$2050)
4/20/20- Buy to Close 10 UAL 4/24/20 $30.00 C @ 80¢ (-$800)
Profit +$1250
I saw the opportunity to get out of this Naked Call with a $1250 profit so I did. If the stock goes up tomorrow I’ll try to get another Call sold. It’s only Monday and I locked in this nice profit.
I also sold a $25 Put on UAL. I sold 10 contracts of the UAL 4/24/20 $25 Put for a 60¢ Premium (+$600).
Sell to Open 10 UAL 4/24/20 $25.00 C @ 60¢ (+$600)
Successful Trading,
Steve
The Options Coach