Out of Another MU Call

I wrote a little while ago that I bought a few Micron (MU) Calls. The stock made a move and I just sold one of my Calls. I got into this Call on January 24th. I bought the Call for $8.55 and had a goal to sell it at $10.30. The premium was at my goal but the stock was moving up so I watched to see where it would go. I had to move away from my computer so I placed a sell order with the price of $11. When I got back to my computer my order was filled. Sometimes it good to place and order and get away for the computer, it takes the emotions out of the decision.

 

1/24/24 – Buy to Open 1 MU 6/21/24 $87.50 C @ $8.55

2/27/24 – Sell to Open 1 MU 6/21 24 $87.50 C @ $11.00

 Profit +$2.45

 

With the $11 sale I have a gain of $2.45 for a profit of $245. This position was only 1 contract and I held it for 1 month but $245 profit on a $855 investment is a Return of 28.6%. I will not complain with this!

I have one more Call with MU. I will watch it closely and exit when I the return I want. This Call also expires in June so I have plenty of time.

While I’m getting reacquainted with the market I will continue to move slowly.

 

Successful trading,

Steve

The Options Coach