Last Monday, February 22, 2021, our intrepid, fearless investor sold 15 covered call contracts of Novavax (NVAX), expiry date Friday, February 19, 2021, strike price $290.00 (NVAX C 19FEB21 290.00) and immediately pocketed $17,970.86 — more money before a late breakfast that day than she ever netted in two weeks when she was practising dentistry.
NVAX soon dropped to $230.00 and she lost more on the underlying than she received in premiums on the covered calls. A lot more! $68.37 per share, to be exact for a total of $102,555.00 ($68.37 times 1,500). She acquired her NVAX shares on February 8 at $298.37 per share!
She sees her NVAX shares as a money tree which shrinks and grows and shrinks but constantly throws off cash.
And what are her plans today for this fun portfolio when the market opens at 9:30 AM today?You need to login to view the rest of the content. Please Login. Not a Member? You can now sign up for a one-month free trial membership. Join Us