Cashing Out of Square

I've been focused on Square (SQ) since August when I first began writing about the name on what feels like a bi-weekly basis. The stock traded in the mid-upper $20's back then. What I wouldn't give for the buy-and-hold approach rather than the options trading strategy knowing what I know now. Of course, we can say that about every trade, can't we?

Just last month, I played with the stock into earnings as shares traded $46.65. My upside target of $52 has been surpassed, and after adjusting my earnings straddle into call spreads, I can cash out for a maximum profit tomorrow or take a bit less and cash out today removing the overnight risk. I am cashing out. The reason: I believe we'll need some time to consolidate if shares are going to take another leg higher....482 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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