MISTAKES WERE MADE.
Evtnhough my plan was to sell calls on this stock to profit off sideways movement. It was a good plan but again I forgot to time correctly.
Selling options is bad when then the implied volatility rises and I didn't take into account the upcoming earnings report for $Stellantis NV(STLA)$ . I sold a call around 13.20 which in the past, stellantis was bouncing between 13.30 and 12.50. But with earnings come up, Mr Market has decided he wants to bet big on Stellantis, and with such a low PE, who could blame him?
While I always believed in the long term profitability of this stock, I assumed the short term would continue to go sideways or fall further. Breaking 13.70, 20 days before earnings was surely a surprise.
And so I decided to close my position early at a tiny profit, because I don't want to lose my shares just yet, maybe I will continue my selling options strategy on stellantis after earnings has ended.
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