Closed Boeing (BA) Calls

Yesterday I sold three naked calls on BA @ $0.60 and by the end of the day when BA pulled back from its highs the same calls were trading at half the price as where I sold them.  After my last trade on SPY turning to a loss after I could have taken a profit, I have decided to take profits early if I can get the majority of my total planned profit very early.  With these BA calls I was expecting full profit of $167 after five and a half weeks.  With the options already way down I decided waiting another fives weeks didn’t make a lot of sense, even with the added expense of commissions on the closing trade.

I entered an order to buy the July 85 calls (BAGQ) back at 0.35 and two hours later it hit.  I paid $117.24 and took a profit of $49.76, less than a third of what I could have made, but I did it in one day, not five weeks.  Immediately I went back into my account and placed a new limit order for the same option to sell four new calls at $0.60 again.  Just as before, I expect BA to come back up, so I figured I should buy low and sell high, again.  I know - it’s a novel idea.