Selling my first call contracts
My order to sell four CALL contracts of LUV at a strike price of $30 with an expiration date of May 1, 2020 was executed immediately when the market opened at a premium of $1.25 even though I had asked for only $1.05. It had opened at $1.20 and had a range for the day of $0.70 - $1.25. It closed the day at $0.82. This worked out really well for me. I guess the BidXAsk contract sizes must have changed from this weekend when the market opened.
My order to sell one CALL contract of CMCSA at a strike price of $38 with an expiration date of May 1, 2020 was executed immediately when the market opened at a premium of $0.87 even though I had asked for only $0.85. It had opened at $0.87 and had a range for the day of $0.87 - $1.18. It closed the day at $1.04. I probably could have played this one stronger seeing what the BidXAsk contract sizes were over the weekend.
I needed to adjust my order for the three PG CALL contracts. The stock went down right at the start. The $120 strike with an expiration date of May 1, 2020 opened at $1.04. I changed my premium from $1.20 to $1.00 at 9:51AM Eastern. The premium continued to fall quickly from that point. So, I switched to a strike price of $118 with the same expiration at a premium of $1.35 at 10:48AM Eastern and my order was executed at 10:49AM Eastern at $1.35. The CALL contract with a $120 strike price had a range for the day of $0.45 - $1.04. It closed at $0.45. The CALL contract with a $118 strike price opened the day with a premium of $1.85. It closed the day at $1.30 and had a range of $1.20 - $2.05. I definitely missed out on a better opportunity with this contract.
LUV closed the day at $29.11. It had opened at $29.79. It had a range for the day of $28.85 - $29.91. I’m curious to see what happens during the week. I think the earnings announcement is going to come out tomorrow, and I’m guessing the stock is going to go down. I think that I may not get assigned on my CALL contracts. Interestingly, there is a report on Barron’s that says that Southwest is “looking relatively strong” though it goes on to say that it is “struggling to maintain operations” and that “air travel has collapsed by 95%.”
CMCSA closed the day at $38.33. It had opened at $37.57. It had a range for the day of $37.40 - $38.35. I’m thinking it’s pretty likely I’ll end up getting assigned on my CALL contract by the time the week is over if not before.
PG closed the day at $117.45. It had opened at $119.19. It had a range for the day of $116.90 - $119.19. I’m thinking it’s pretty likely I’ll end up getting assigned on my CALL contracts by the time the week is over.
I give thanks to the Universe for the abundance it provides me. I surrender and am open and ready to receive.
Bhavatu sabba mangalam - May all beings be happy