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Yea IQ is a very volatile stock. I plan on swing trading this through the peaks and valley if the situation looks good similar to what I recently did.
Sold a Put back in June that expired worthless. Made $200.
Sold a Put in July that got exercised. I bought 100 shares for $30.17 cost adjusted.
Just sold a covered call on those shares for July 27th @$33 that paid $197.
If it's exercised by July 27th I will make $250 on the sale.
About $650 of profit for not a ton of risk. I'll take it. If it looks like I can do it again, I'll start the cycle of selling a Put again as the premium payouts for options on IQ are high given the volatility.
And thank you Scho. I learned mostly about these options from you and have been using them at times with success.
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