Saving money with combination orders

If you ever plan to trade more than straight long options you should learn to use combination orders, specifically debit and credit orders. . A combo order allows you to execute multiple trades simultaneously at a single integrated not-to-exceed price.  Some examples: Creating a simple covered call position, buying the underlying equity and selling-to-open calls Creating a call bear option spread, selling the lower strike …

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Back to the oil well

I’m back into USO after selling my shares and buying  back my 24-September S33 calls last Friday for a net credit of $32.97 per share.   Bought USO this morning at 33.01, sold-to-open S33 calls at $0.44.  Breakeven is 32.57, maximum profit is $0.43 per share.    Best case this is a 1.3% return for a 5 day investment.