Micron Technology (MU)

[JLS]

CCs finally expired worthless.

Finally chipping away at the cost of rolling them out during the last couple months. Going out only one week with expirations helped a lot -- easier to try to predict future stock price.

Also eliminating the extension of the original fork (now shown in yellow) from the normal three tines to five tines.

To account for the increased strength of MU price movement, I’m adding a new fork which is shown in blue. It has a higher slope than the yellow extension. Maybe that’s a better way of reflecting that the market now thinks that MU deserves a higher earnings multiplier.

So now I’ll wait for MU to test the upper blue tine then sell near-term CCs that, in the ideal case, are just above the upper blue tine at expiration and will expire worthless.