NIO: collect 2.8% premium for this covered call with strike at $5.
Contract expires in 5 weeks on 14th Mar.
NIO had been weak and below its 200 days MA since Nov 2024 and don't likely recover till a positive catalyst present itselt. Won't be a crystal ball either so trade with what I had. Sold these covered calls on my existing shares holding to collect some premium while waiting. At some point in the future, will reevaluate the trade as a whole whether to still worth keeping these stocks as well or cut loss and move on.
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