With the market on the run again this morning I bought another 1000 shares of Peloton at $113.75. This is such a hot stock I decided to cover the 2nd leg of my Triple Play Hedge. The 2nd leg has a Strike Price of $118.
Buy 1000 Shares PTON @ $113.75
I now have the 1st and 2nd leg covered. The 3rd is still Naked. This Naked Call has a Strike Price of $120. I’ll be watching closely to see if I should cover the entire Triple Play Hedge with the buying of another 1000 shares.
Successful trading,
Steve
The Options Coach