Whats The Plan/Trade/Thought
I entered this position as I believe that we are currently in a sideways bearish situation. The markets took huge dips since late Nov to Jan and while it has recovered some of that loss. The S&P and especially the NASDAQ show that at least for now, the constant bold bullish days are narrowing
Even though I am taking a sideways...
AMD reached all time high since 2007, it simply went parabolic.
Sell 4 naked calls @ Oct 19 options with Strike of 35 for $0.70 credit per contract.
Target profit: 1/3 - 1/2 of Max profit
Stop loss: 2X of credit received
