This META covered call option was opened on the earning week, just 3 days before the report, to ride the high IV in order to collect a higher premium, the strike was rather far out thinking the days of META going up 15%--20% is not quite possible as the share price is already inflated, however, the earning still took the market's breath away and headed up over 12% at some point.
On the next day the over all market started to pull back, META pulls back over 3% closing at $750 o at bthe low my short call strike, thus rendering this option expired worthless, kept the full premium.
Will continue to sell covered call with far out strike sighting the volatility may continue to be elevated to what looks like a pull back is on the horizon.
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