Three Trades (JD, FTNT, DLTR)
Five of our Profit Booster positions expired on Friday. Two expired for full profits, while in the case of three covered calls, the stock closed below our short strike price.
Because JD, FTNT and DLTR, closed below the strike price, today we are simply holding stock positions in these three stocks. Let’s address these positions today …
First off, we are going to sell our JD and FTNT stock positions. JD looks “meh” ahead of earnings tomorrow morning, and I see no edge in holding this position into the event. And in the case of FTNT, the stock looks pretty bad, and I simply want to move on.
To execute these trades, you need to:
Sell your JD and FTNT stock positions
After these stocks are sold, we will no longer own a stock or option position in JD or FTNT.
And while the stock action in JD and FTNT is less than inspiring, I think DLTR looks good. And for that reason, I am once again going to sell a new call against our stock position. Here is that trade …
Sell to Open the DLTR September 165 Call for $10 (approximately)
I am choosing to sell an in-the-money call in DLTR as a defensive play, as the market has weakened in the last couple of days, and DLTR will report earnings on Thursday.
If you have a question about any of the trades above, don’t hesitate to email.