CLOSING the - $FIO OptionsAction Trade - mike

15 Jun - this trade will be a winner as most covered call trades tend to be. since this trade aired the stock has drifted down a bit so the jun20 call will expire at max profit if you still held. just note below that the alternative trade of selling the strangle would have been a winner by about $320 per lot if you took that route. this trade and mike khouws other on-air trades in a google docs spreadsheet

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17may - mike has trade on FIO on tonights show based on facebook hype.. i dont follow the stock but here is the video clip FIO clip

Sell the Jun 20 call for $2.00

implied is that you are already long the stock. mike emphasizes how juiced up the options are.. standard covered call trade pretty much.. you have to be ok with capping your upside at $22 though. the stock is at a low going back to about november, ie everyone that has bought since nov and held has a loss.. likely not get back to breakeven with this $2 premium and a call away at $20.. would be ok if you bought today i guess or you expect selloff to continue.. an alternative if you want to enter this stock is to sell a Jun19 put for about $1.50..gets you long at $17.50. also if you are long already and want to add another block.. look at selling the June 20/19 straddle..as in sell mikes jun20 call and sell my jun19 put.. collect $3.50..gets you long that second block at $15.50.

google docs spreadsheet of Mikes OptionsAction trades -->> spreadsheet