Buy to open: NUE Dec 20th (monthly) 175.00 strike call (ratio of 1)
Sell to open: NUE Dec 20th (monthly) 180.00 strike call (ratio of 2)
Credit: 0.12 – this order has filled
We own 50 shares of stock. So, we will still end up “naked” 50 shares. However, this gives us even more room in the event of the stock spiking higher!