I bought Square on 9/1 at $169. I’ve been selling Calls and bringing in nice premium but last week it dropped with everything else. With the stock at $152 I couldn’t get a premium that I liked so I lowered the Strike Price a little. I went down to $165. I don’t think it will get there before Friday but if it gets close I’ll buy another 1000 shares to deliver if it looks like I’ll get assigned. I’ll put in a buy order at $164.80.
Sell to Open 10 SQ 9/25/20 $165.00 @ 80¢ (+$800)
For a stock that is much lower than where I bought I’ll take the $800 and pay my margin interest for the entire month. I look at this Call as paying my business expenses.
Successful trading,
Steve
The Options Coach