+105% Gains in America Movil
We sold American Movil (AMX) which is a wireless communications company based in Mexico City, Mexico. Here is how we traded the name:
On 06 Oct we bought one contract of the 17 Nov 2017 17/19 vertical call spread costing us $81 for the spread when the stock price was $17.55. We sold this one spread today on 20 Oct for $166 when the stock price was $19.26 today, pocketing the difference between $166 and $81 for a pretax gain of $85. That's a +105% return on our money in 11 business days. The stock only made a gain of +9.74% but our options position returned over 10 times that amount!
If contract, expiration, calls, vertical spreads and such don't make since then we encourage you to take our Basic Options Course so it will make sense and you can start making some money from your computer or smart phone.
