Describing an aggressive member‘s Novavax (NVAX) derivatives adventure with $500,000 worth of the stock, our September 1 post stated:
“She lost about $170,000 on the NVAX stock. Writing covered calls for five weeks in a row, she earned about $100,000 in premiums bringing her loss is down to about $70,000. She plans to continue writing covered calls every Monday with expiry date of Friday of the same week, hoping ultimately, to come out ahead.
“I will keep you posted.”
Monday, September 7, Labor Day, was a market holiday. Here is her position before the market opens today, Tuesday, September 8, in round numbers:
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