I’m currently in an options trade for ATT (symbol - T). I have 3 August 18 $37 calls at $18. Currently I’m up $31 minus commission costs. Both ATT and Verizon have been on a huge
upswing trend since last week. ATT has
been going higher all year even when the rest of the market has pulled back. I’ve been taking profits at various technical
levels and have been timing entries on the way up. This options play is a classic case of “the
trend is your friend.”
I saw that Starbucks (symbol - SBUX) had a huge sell off and
was setting up for a decent comeback. I
missed my early entry but got in at a decent level with 2 Oct 20 $67.50 calls
for $31 . It has since gone up but
unfortunately not enough for me to make a profit yet because of
commissions. I will wait to see if it
goes higher today.
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