Buying SoFi at $6.82 on Wednesday and selling a $7 call for a premium of $0.08 is a covered call strategy. The technical analysis likely indicated a support level around $6.82, making it a potentially good entry point. Selling the call at $7 suggests an expectation that SoFi might rise modestly but not significantly above $7 by expiry. The premium of $0.08 provides some income, reducing the effective cost basis to $6.74. This strategy limits upside but offers a buffer against downside risk. 📈💼
Side | Price | Filled | Realized P&L |
---|---|---|
Sell Open | 0.09 1Lot(s) | -- Closed |
Modify on 2024-06-07 12:38
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