HIMS in supply
Hims just hit the supply zone on a very bullish market. This is usually where I sell covered calls, or if in a spot trade sell shares. I sold covered calls today and have been layering up as the stock pumps. This is one of my largest holdings. It will be a battle for the stock to take this red box with conviction on short notice but anything is possible.
My plan:
I went with a safe spread of 31/32/35 covered calls with most of my shares at 35.
This will allow me to capture another ~500$ share appreciation per 100 shares if the stock really pumps, the 31/32 spread is for premium and I will manage those if I need to. I am ok with letting 20-25% of my shares get called away if I am close to strike on expiration since I own so many shares in my spot only account.
Summary: Short term bearish on price action
Long-term very bullish
My plan:
I went with a safe spread of 31/32/35 covered calls with most of my shares at 35.
This will allow me to capture another ~500$ share appreciation per 100 shares if the stock really pumps, the 31/32 spread is for premium and I will manage those if I need to. I am ok with letting 20-25% of my shares get called away if I am close to strike on expiration since I own so many shares in my spot only account.
Summary: Short term bearish on price action
Long-term very bullish
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.