I’m watching the market but I’m really trying to not make any more trades this week. But I do own 2000 shares of Palantir (PLTR), and the stock moved at the open, so I sold a Call on the previously owned stock.
I bought 2000 shares of PLTR on 11/25 at $28.40. Most readers know I brought in some nice money with premiums while holding the stock. The stock dropped back a few dollars and I was having a little problem getting a Call sold with a premium I liked. Today being Thursday and the stock up I was able to get a 20 contract Call sold I’m happy with. I sold 20 PLTR 12/18/20 $29 Calls for a premium of 18¢. This may not sound like a lot but on the 2000 shares it’s $360 and this option expires tomorrow. I’ll take it!
Sell to Open 20 PLTR 12/18/20 $29.00 C @ 18¢ (+$360)
This trade gets a Risk Factor 1.
I would like to hold my trading to only Covered Calls on previously owned stock for the remainder of the year. Lets see if I can stick to it, lol. Sometimes things jump out at me and I have trouble holding back from pulling the trigger. As I’ve been writing, even Covered Calls on previously owned stock, I’m gonna try to sell Calls expiring in the new year. The reason is I’ve had a great year and any new income I’d like credited toward next year’s income.
Successful trading,
Steve
The Options Coach