Out of Cloudflare (NET)

I was in 200 shares of NET at $67.10. I really don’t like the candlestick chart. It looks like it’s up at resistance. I decided to get out of NET at $67.75 and buy 200 shares of Marvell Technology (MRVL) at $63.48.

Last week I reported that I owned the 200 shares of NET and sold a 2 contract Call bringing in a $860 premium. Now with the sale of the stock at $67.75 I locked in another $130. With the $860 premium I bought shares of my high dividend stocks, as reported.

7/26/23 – Buy 200 Shares NET @ $67.10

8/7/23 – Sell 200 Shares NET @ $67.75

Profit +$130

 

I now own 200 shares of MRVL and I’ll try to get a Call sold against these shares tomorrow. I bought the shares right at the close and I didn’t want to rush into the Call because the market started to move up at the close. Hopefully it opens moving up in the morning.

Buy 200 shares MRVL @ $63.48

The NET trade is a great example of a Grasshopper trade. I believe MRVL is also.

 

Successful trading,

Steve

The Options Coach