Earlier today I purchased 400 shares of OIH at $119.50 and sold 4 February $120 strikes at $5.67. If called I’ll make about $2,500 in total and if not, it’ll be about $2268 in profit and I’ll hold the shares until the next good opportunity. I debated with myself on this trade since I like buying OIH under $110 but with the call premium so juicy I just had to take the plunge. As always now, I’m maintaining a 50k reserve to buy on the dips if OIH plunges below $100.
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