Advanced Micro Devices Inc (AMD)

[HailMary]

HailMary, I thing your position is overexposed to drops. I never did that for over a year.

Which is why I had an exit strategy. I am, however, going to go with my gut this time and take a risk. I'm not risking anything other than previously made profits.

If you missed my earlier trades...I made a ton of cash on writing puts over the last 2 years. I rolled some of that cash into 04 Jan 15 calls, and did very well (neary 3X gain). I took some of the profits from this and bought Jan 19 calls, and kept the rest as cash. So I have more cash than I did before buying any calls.

My predominant position is still shares value wise. I could sell now including losses on the Dec 17 puts and Jan 19 calls and walk away with >100% profit overall in a 2 year period.

I did overwrite myself. I will have to use all my saved cash on the Dec 17 put assignment. I made this write in haste. In retrospect I would have just held the shares and bought the calls and sat on it. I would have exited the shares at this point to lock in overall profit and let the calls run. Like I said though, I'm breaking my own rules this time.

Aggressive? Yes. But the stock can drop to $11 and I'll still make a profit overall (albeit a much smaller one at that point). If it hits $12, I'll be sorry, but I'll walk away. I think the fundamentals are strong enough to justify my position at this point.

HailMary