wanderer said:
ag94whoop said:
I bought back all my covered calls I had sold yesterday on CLOV and sold shares $6 over that net impact price. down to only 250 shares of CLOV and trying to decide whether to see if it goes back to $27-28 or just exit and move along. Seems to have lost its mojo today so far but who knows, may bounce back up later in day
That seems unlikely, but hopefully for your sake it's correct. If you're implying that you increased your net sale by $6/share after buying the calls back that doesn't seem possible, especially with the drop it has had this morning.
Maybe I misworded that. I meant to say that after buying the calls back, I still made over $6 per share profit.
I had a running cost on those shares of about $14.40 (not even including the cost impact of some older covered calls that I made money on), sold covered calls against them at $.40 and them bought them back at $4, increasing running cost to about $18. then I sold calls at $5.20 yesterday, then bought the calls back for $6 today. Net cost of shares increased to a little less than $19. I then sold all those shares for $25-26 in various batches, making a little over $6/share.
If you include the older covered calls, I probably cleared about $7/ share. Nothing close to what I could have made but honestly I am happy to be mostly free of CLOV with profits.
I still hold 250 shares and not sure whether to attempt to sell calls against them or just liquidate them completely.
If the price would have stayed above $25 I would likely have just sold the remaining.