Did this at open, after which the underlying tanked ... . Heck, what hasn't tanked in today's market. In any event, continuing to work this sub $10 high IV underlying here.
Metrics:
Bought 100 Shares at 7.48
Sold Oct 21st 8 call
Whole Package: 6.94 debit
Max Profit: $106
ROC: 15.3%
Metrics:
Bought 100 Shares at 7.48
Sold Oct 21st 8 call
Whole Package: 6.94 debit
Max Profit: $106
ROC: 15.3%
Trade closed manually:
Covering today for a 7.67 credit on this oil pop, so net profit of $67 per 100 shares/contract after fees/comms (9.6% ROC). I have a few bullish petro plays on, so I figured I'd take profit where I could ... .