For you who are watching Main Street beats Wall Street pretty closely you know I sold an OXY 10 contract Naked Call. I brought in a $1000 premium. I reported that if I could get out of the position with a $500 profit in an hour or 2 I would do a “Buy to Close”. I placed the “Buy to Close” with a premium of 50¢ and I just got filled. The 2 trades are listed below and this position is closed. It took a little more than an hour and I’m out with a $500 profit. Great way to start the week!
Sell to Open 10 OXY 6/12/20 $27.00 C @ $1.00 (+$1000)
Buy to Close 10 OXY 6/12/20 $27.00 C @ 50¢ ($500)
Profit +$500
Once in a while I’ll make a Day Trade.
This money is already in my mattress!
Successful Trading,
Steve
The Options Coach