Trying hard to contain my excitement. I’ve been waiting, waiting, waiting…
1. Waiting for a new trade that has potential for 3R profit
2. Waiting for an opportunity to buyback the Call Option that I sold, US market had another steep fall (nearly 200+ points) following yesterday’s fall (150=) and today, Oil fell more than $3, so that does not bode well for the stock I hold, but good for the call option I sold (I’m embarassed to admit this but I’m happy that the market is falling – the call I sold will be much cheaper!)
3. Waiting for a confirmation for an up-move, here , seeing that the market is continuing to fall, I don’t want to close on my call option if the market is still going down. I am buying it back when the price has “landed” and there is a “V” or confirmation that the price is on the move upwards.
As of yesterday’s close 17 Nov. the covered call STOJY7 which I sold for 85c and is now 1.17.
With 600 shares, my floating loss is $192 — check the statement:
Covered Call Statement - STOJY7
