Micron Technology (MU)

[JLS]

Losing patience with MU!

Stupid declining channel:


The only reason I've been able to make any profit this year on MU is because I persistently sell CCs.

So I sold the MU $45.50 Calls that expire tomorrow, and I don't care if the stock gets assigned -- I kinda hope it does. If not I'll sell tight Calls again on Monday. Basically, I want the shares to get assigned, then I'll move all those funds over to AMD where I've done much better.

So, why don't I wait till MU goes back up to about $50 then sell?

Because while MU is down by 8.95% today (after being down during the prior few days), AMD is down by only 2% today after going very significantly higher over many days; and AMD gets much better press than MU. And, AMD also has higher volatility so it gets better (higher on a percentage basis) option prices which is always a good thing when selling CCs or Puts. In fact, since I currently don't own any AMD this week, I sold AMD $27 Puts that expire tomorrow.