Jun 1 • Long trade idea, No day trades
I sold puts and CC's this week on SOUN
Last week I sold my shares of SOUN @ $8.5 covered calls was assigned.
SOUN, my price targets are still 12-17 .
I bought back in with 1500 shares @ 9.16 and sold 9.5 CC this week.
I made $375 premium from the 15 sold calls and what happens, happens.
If I end up selling the shares, I'll make an additional $510 on top of the option premium for price appreciation from 9.16 average to 9.5.
Secondly I sold 5-8.5 strike puts to get in lower if price drops, made $110 premium for those.
I am letting the week play out. If I buy or sell from the options that is fine.
Minimum profit is $485 from options premium and maximum profit $995 for this week.
SOUN above 9.5 by close Friday I realize max profit, if below 8.5 close on Friday I'll buy 500 more shares lowering my average.
No matter what happens I will make $485 from $17,990 in collateral. That is 2.7% on for the week! If best case happens that will be 5.5% on the week!
Investing JustJoey Style
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I sold puts and CC's this week on SOUN
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