With Uber up $4 today, being at an all time high, and having a very high RSI of 80, I just sold a 10 contract Naked Call. I don’t see the stock going much higher. With the stock at $48.90 I sold 10 11/13/20 $51 Calls for a premium of 55¢ for $550.
Sell to Open 10 UBER 11/13/20 $51.00 C @ 55¢ (+$550)
This is a Naked Call only $3 Out-of-the-Money so I give it a Risk Factor 4. I will watch it closely and will cover if the stock continues up.
Successful trading,
Steve
The Options Coach