While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
As I mentioned when I suugested you close out the short December $16 call on AMC, I would like to try and sell another round of calls for December.
AMC has bounced and is now trading just under $16.
My suggestion is to Sell to Open (1) December $17 call for every 100 shares you own.
The December $17 calls can be sold for $.20. You may want to try to sell them for $25 and see if you get filled.
These calls expire in 4 days.
This alert applies only if you own shares in AMC.
Assuming a fill at 20 cents, you will have collected $1.98 per share in call premium.
