Long 1,000 @ $132.
I know that’s a little below the original MAGIC FIB LINE but when I checked the charts today price had gapped down and was at 132 so I entered with a limit order.
Avg cost $132.70.
So the target profit is $137 which will bring approximate profit of $7,740.
Other alternatives if I’m feeling not so bullish:
– Sell 18 $133 covered June calls for $1.55 ($2,790 proceeds) + $540 profit if the calls are exercised.
– Sell 18 $135 covered June calls for for $0.72 ($1,296 proceeds) + $4,140 profit if the calls are exercised.
The options forum tells me I don’t want to sell covered calls too far out in the future because it’s not usually worth the extra premium.
Or I could always Sell 18 $137 covered June calls for $0.27 ($486 proceeds) which was my target profit anyway, so like an extra $486 less commissions?