Bought Another Option on UAL and MU

Earlier I reported that yesterday I bought a one contract option on United Airlines (UAL) and a one contract of Micron (MU). I also reported that UAL hit my goal and I sold that option. Leaving me with just the one contract of MU. Near the close I bought one more contract of each leaving me with one contract of UAL and two contracts of MU. Below are the 2 positions I just bought at the close.

Buy to Open 1 MU 6/21/24 $90.00 C @ $8.00 

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Buy to Open 1 UAL 6/21/24 $43.00 C @ $4.40 

 

My goal is to get out of the MU position with a premium of $10.00 and the UAL with a premium of $5.30. This would give me a gain of 20% or better.

I bought these new positions because the market was moving up into the close. Hopefully all the positions will hit my goals tomorrow and exit for the weekend. If not, no problem. I have plenty of time before expiration.

With the way the market has been moving I give these positions a Risk Factor 1.

 

Successful trading,

Steve

The Options Coach