NDAQ opened positive* and has traded strongly above $30 which may be a top for awhile.
If you happened to buy sub-$25 just a few weeks ago you now sit on a 20% profit and the possibility of protecting part of that gain by selling a call, for example, a Nov 30 call could net you about $1.90 at the moment.* This in itself is a 7% profit.* A bit over 5 weeks from now you have many possible outcomes.
You could lose the stock at $30 and pocket the large profit.
If the stock is below $30 you might be able to sell the 30 call again.*
If the stock falls below $25 you could sell the $25 call (as I did)* and still be making money.
The stock could really fall out of bed and --well, you'd be playing the market.
Of course, all these options relate to a* purchase price of $25 as originally noted in the first post.
Please excuse the detail, but many posters in the past have talked about options and this transaction offers a good blow by blow education of a very conservative transaction.
Thus far it is a happy story.* Plenty go the other way.* All the info also assumes you use a deep discount broker.