Selling our KLAC call contracts.
Shares of KLAC traded sharply lower this week after holding up well during the initial stages of the growth-stock selloff. A break of the 50-day average may raise concern for short-term traders, making it more difficult for KLAC to re-take previous highs.
Today’s bounce gives us a chance to exit the position at a more attractive price.
Thankfully, our in-the-money put strategy helps to offset the decline for KLAC because the call contracts still retain some of their time premium.
- Selling (to close) the KLAC February 18th $390 Calls
- Limit $26.00 or more
- 10:54 Executed
- Sold KLAC Feb 18th $390 Calls @ $29