I’ve been watching the AT&T trade all day.
The underlying stock is up more than $1.30.
That move gives us great gains on the AT&T July 33 call and January 32 call picked up at 90 cents and $1.90, respectively, on April 14, 2015.
I’m recommending that you sell to close both positions to secure the gains now.
I was hoping for further push to the upside, but that may not happen at overhead resistance points. The stock has failed at this same point about 13 times since 2013.
I have no interest in giving back these gains.
Instead, let’s take the gains here and open a put option to capture gains from failure.
Consider buying to open the AT&T June 2015 34 put up to $1.