This is an update to our current trade in LYFT

Currently we entered our initial position under 58.00 which we recorded on our trade sheet as 58.00.  We sold half the position at 59.40 and we are looking at buying that half a position back in addition to adding another.

Depending on how many shares you have will depend on your strategy moving from here.  We are buying 150 shares to take out trade position up to 200 shares.  This affords us to use our option strategy to minimize risk and potentially maximize gains.

If own less than 100 shares, the option strategy will not work.  Just buy the stock and look for the next target.

Current Price:  58.50.  Place a limit order around this level, under the market and let it fill.  This is a noisy and quick moving stock.

On a run over 59.00 today we will look to sell a covered call for expiration tomorrow.  This is for larger accounts so IF you do not have sufficient equity to own over 100 shares just stick to the share trade and do NOT use options.

Will follow up with a chart and further analysis.

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