$Microsoft(MSFT)$ Last week, the speculation lingered: could Microsoft reach an all-time high by the year's end? Expressing my perspective, I confidently asserted that Microsoft reaching this milestone was only a matter of days away. True to that anticipation, just a week later, Microsoft surged past the 370 mark.
Reflecting on my trading journey, I acquired a Leap Call during the market's downturn in May 2022, well before it entered bear territory. As Microsoft touched its low point in mid-October last year, the value of this Leap Call dwindled to a mere couple of hundred dollars, a stark contrast to the initial 5,000 when I first made the purchase. Despite moments of contemplation about closing the position, I maintained my steadfast belief that the market would eventually rebound. Along the way, I strategically employed the sale of Poor Man's Covered Calls against this long call, securing incremental profits.
Fast forward to the present, and the same Leap Call now boasts a value exceeding 8,000 dollars, translating to a substantial profit of around 3,000 dollars. With an expiration date set for January 2024, I am on the verge of closing this lucrative investment. Looking ahead, I'm inclined to open another Leap Call on Microsoft. My conviction stems from the belief that this company is poised to evolve, capitalizing on the AI wave and achieving numerous more all-time highs.
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