The Celgene (CELG) trade option ended this week and I am happy to say I earned 100% of that $80.49 as the price of $115 ended outside of my strike of $113. So that premium, I have withdrew to my checking account, but this money is considered a short term gain where I will have to pay Uncle Sam 25% on next year. Anyway, this is not a killing, but this is dinner and a movie money, grocery money, etc. I will this trade on again if it is lucrative enough for the next week. If I do this four times in a month that is $320 if I always finish outside of the strike, but even if I don’t, my cash becomes stock and then I position to write covered calls for same type of premium possibly while I hold a long position in CELG.
Future options trades I have open are straddle on Harman (HAR) for $85 Aug16 expiration for $135 and cash secured put on Copa Airlines (CPA) for $75 Sep16 expiration for $104.49. I will give the results of these once they expire.
