Since I bought SPCE at $38 Have been writing weekly/monthly covered calls to recover some of the capital.
SPCE 05/29/2020 Call $30.00 $3
SPCE 06/12/2020 Call $35.00 $7
SPCE 06/26/2020 Call $35.00 $6
7/16 SPCE 07/17/2020 Call $34.00 $15
7/16 SPCE 07/17/2020 Call $34.00 -1 Bought the call back before expiration
7/22 SPCE 07/24/2020 Call $35.00 $28
7/22 SPCE 07/24/2020 Call $35.00 -14 Bought the call back before expiration
SPCE 07/31/2020 Call $35.00 $53
8/3 SPCE 08/14/2020 Call $33.00 $40
8/7 SPCE 08/14/2020 Call $33.00 -$1 Bought the call back before expiration
Overall I recovered around $140 dollars from the capital invested.
Since i bought shares of SPCE at $38,i have been writing covered calls for the stock to recover some losses. So far I have written 3 covered calls and all have expired.
SPCE $58 CALL SELL 2/28 this netted me $340 as the option expired.
SPCE $43 CALL SELL 4/17 this netted me another $15.
SPCE$35 CALL SELL 5/8 this added another $43 in premium .
All these calls helped me recover $398 and exactly another $1400 to recover either via stock price or options.
I will keep writing these covered calls as long as they make sense.
These trades helped me understand options little better and i am looking at writing covered calls for some other positions in my account.
I have always wanted to try and learn options ,been reading about them and was willing to try ,Finally i bought 100 shares of SPCE on Feb 20th for 38.05/share. On the same day i sold an covered call for $3.4/contract to sell 100 shares at $58 with an expiration date of 2/28.
Initially i wanted to try with discover shares in my IRA account in TD ameritrade but was denied .
Now this a speculative buy ,that i have been doing since last month ,I bought and sold TSLA,SHOP etc.
Now since the Market has tanked since i wrote the call i Kept the money $340 as the trading price didn’t even cross $40 ,but my investment is in loss since then.Yes I recovered little bit by writing the call.
I have been trying to see if i could do T or Another SPCE call in future.