AMZN: profit taking ahead of Fed rates announcement. Reduce this covered call exposure should market reacts negatively for whatever that might come out.
With almost depleted premium remaining, it's more prudent to closed off these positions and strengthen my margins.
AMZN showed some weakness ahead of fed rates cut and if maintained at similar momentum then the covered call is in good shape.
Still since it's only about $4 away from strike of $135 and trading at close of $231.62, it will easily breach higher than $135 since ATR is already $4.99.
Removing risk and securing capital is more important at this stage of investment therefore I did what I did on Wed by closing about 20 profitable trades ahead of a potential binary volatile event.
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Buy Close | 1.00 1Lot(s) | +72.36% Closed |
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- DeltaDrift·09-18Good move closing this early…[Facepalm]LikeReport
- LenaAnne·09-18Smart moveLikeReport