Grasshopper Report 2/12/21
This is the Grasshopper trades weekly results for week ending 2/12/21.
We only had one Grasshopper trade expire this week. This trade was with NIO. I bought 100 shares of NIO on 1/11/21 and have been selling Calls every week since without assignment. The stock has been trading in a very tight range so I just keep selling Calls. Some premiums and better than others, but I keep bringing in money. You watch, all of a sudden the stock will break out and I’ll get assigned. Until then I’ll try to continue to bring in premiums. This week’s premium was 1.5% of my buy-in price of $63.75. If I can continue to bring in this premium I’ll do it all year long.
Next week, Expiration Date 2/19/21 I’ll have a lot more Grasshopper Trades expire and close. As of right now I have 7 Grasshopper positions expiring next Friday. And I might make another trade or 2 this week.
Below is the lone expired position for this week.
NIO
2/2/21 – Sell to Open 1 NIO 2/12/21 $64.00 C @ $1.00 (+$100)
2/12/21 – Expired 1 NIO 2/12/21 $64.00 C
Profit +$100
Total Weekly Gain +$100
I think “The Grasshopper Field” is going well. I hope these trades are helping you. I have a lot expiring next Friday and I’ll try to find a few more for the week. I’ve been a little bogged down with 2 very large positions, Palantir and Peloton. This week I was assigned on 4000 shares of Peloton so this will give me a lot of money in my margin account to work with.
Plus, I’m trying to get my weekly locked in money down to $10,000 a week. Imagine that, lol, trying to keep it down to $10K. My weeks have been crazy since the beginning of the year and I think it’s time to pull in the reins a bit. I’m trying to prepare for the correction that I feel is coming, and when it does I’d like to have a bunch of money in cash available for good deals. The stock saying for the spring is, “sell in May and go away.” But I think it will come a little earlier this year. Will see!
Enjoy the long weekend!
Successful trading,
Steve
The Options Coach