Hmmmm....remember the Double Boob formation? The right(left?) one is off a bit, but I'm seeing something interesting forming in the chart.
One of the maniacs in the chat room came up with it in the HSM days. Those of us with *MATURITY!* Called it the "Double Cup and Handle". The teenage-acting boys called it The Double Boob.
Still in this 1600 around $8, have sold covered calls 3 times that have netted me $5k as well. Would really love to add to my position if I get another chance at $10, but it's had 5 straight up days and haven't had the chance. Hoping for more profit taking and will consider a re-entry here. Idea would be have enough shares where I can sell $1k in covered calls every 2 weeks until I get called away or until I decide to bail and break the upward momentum. I don't like this one a true long hold but I do like this one with the 6-9 month horizon. I suspect $10 is your floor now until next earnings, very little downside at that price if you target that as an entry.
I've done fairly well with this one. My 1600 shares are now "Free" with the last round of covered calls I sold yesterday. Got $4k for $22 strikes expiring next Friday. Was kinda hoping I'd get called away out of my shares but will play for another wave if it keeps letting me do so.
