New Covered Call on NIO, after 7 days profit of $1,700, 12.3% or 642% Annualized.

On 8/20 we established a new CC on NIO purchasing the stock at $13.80 and selling Aug 21 $14 calls. Stock has significantly moved up closing yesterday at $19.88. We are making a profit of $1,700 on the position so far….but the return would be higher had we not covered the position. So far we have done a calendar roll on 8/21 and a vertical roll on 8/26. Planning on a calendar roll today. Option premiums will be high on this volatile stock.

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