I’ve held this lot of AMD for quite some time, and it spent a significant period underwater while the share price languished below the $100 mark. Even after it finally climbed back above my strike, the price stayed stagnant for a while, so I focused on selling covered calls to generate some side income and hedge against that frustrating sideways movement. Everything changed last October when the price action took a sharp turn and spiked, leaving my covered calls deep in the money and resulting in several lots at a different brokerage being called away because they became too difficult to roll. I’ve been holding onto this final lot for dear life, and after months of rolling, my last covered call finally expired worthless last week. With AMD now looking like it has found a solid footing around the $200 level, I’m feeling much more confident and plan to add one more lot whenever we see a decent price pullback.
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