Hello Investors,
We took profits in our ABBV hedge. We had bought 22 additional shares to hedge some of the upside risk in our covered call. We will also attempt to “roll-out and up” on our covered calls. This is a pending order at 3.30 debit and we will see if we can get the order filled today.
Sold: ABBV 22 shares at 99.02 per share
Buy to close: ABBV Nov 20th (monthly) 92.00 strike calls
Sell to open: ABBV Dec 18th (monthly) 97.50 strike calls
Limit debit: 3.30
Day order (pending a fill)
In addition, we took profits in our DKNG naked put trade. While there is still a high probability that we would have made the extra $25. It would require us sitting in the trade for 2-months. The stock has a bearish bollinger band setup and the option price collapsed on the earnings results. We think the risk/reward to staying in isn’t worth the extra 0.25 of income.
Bought to close: DKNG Jan 15th (monthly) 25.00 strike puts
Debit: 0.25
Have a great weekend!