#LongLEAPs #SyntheticCoveredCalls

I played this one badly this week. I had rolled last week to ITM Feb 1st 67 calls. I had the chance Tuesday to close for a profit with the pull back all the way down below 68. But I foolishly went by sentiment rather than reality: I thought weakness would continue through the week. That’s what I “thought”. In reality, it was simply a must-exit opportunity. Sold the calls for 5.75… could have exited for less than 3.00.

Now, they’re going for 10.50 as SQ resumes its strong rally.

Lesson learned. When ITM on calls, take any opportunity to exit. Don’t wait for a .30 exit.