I sold 4 contracts for September 08 $66 strikes for $1.60 to rake in about $630 (2%) in less than 45 days till expiry. I placed the order in and didn’t think it would take but someone bought. If the market tanks again, I’ll buy back these calls cheap, like $0.25 and if I get assigned then I will have earned a good return these past few months and be called out and revert to cash. I look at it as a win-win in either case.
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[...] I bought back my 2 SSOIN option contracts for $0.10 after selling them for $1.60 about a month ago. If the market rallies then I’ll resell those same SSOIN (Sept $66) calls for another [...]