Results Week Ending 3/5/21
It’s Monday morning, I’m in Daytona for bike week, enjoying being out of the house and I’m back to my computer. The sun is shining in my balcony glass sliders and I’m back to work. For a little while anyway! I will get on my motorcycle soon to enjoy this beautiful weather in this beautiful state.
I must say, living in New York you hear so much on how Florida is open as if there was never COVID. This is not true! All the friends I’m traveling with, who live in Florida, carry their mask and put it on with every building we enter. You stop at a Wawa to gas up and go in for a knack, every single person has a mask on. You go to a CVS, a restaurant, or a bar, every single person has a mask on. With the bars and restaurants, everyone walks in with a mask and takes it off once seated. So far, the bars I entered do not have bar stools. I’ve only been here a fews days, and did a lot of riding to get where I am, but now that I’m settled in I’ll be entering more establishments to further investigate how “careless” this state is. Me, so far, I’m very impressed. I think most are careful when they should be and more open when they can be. I’ll update me observation as I get out more in this honky tonk town.
OK, let me get into the market. I locked in some nice money this past week, but by no means am I happy with my account. My stock holdings took a huge hit the last 2 weeks, but so did everyone else’s. Including Warren Buffet and every fund in the world. There are times you really need a strong stomach to be an investor. I’m very happy I prepared a bit by getting money stacked up on the sidelines. But, believe me, my account took a big hit. I’m a bit worried about taxes. I had a huge year in 2020 and it’s almost time to pay. The problem is my tax return payment has to come out of my account. Between the big hit my account just took and having to remove a large sum for taxes. It might not look good. I’m hoping for a big bounce before April 15th.
The bottom line is I have to continue bringing in my weekly goal and when the market recovers I’ll look good again.
Here are this week’s trades. Because of the market sell-off I was not assigned on any positions.
Applied Materials
A Covered Call without assignment.
3/3/21 – Sell to Open 10 AMAT 3/5/21 $116.00 C @ $1.75 (+$1750)
3/5/21 – Expired 10 AMAT 3/5/21 $116.00 C
Profit +$1750
Workhorse
A Covered Call without assignment.
2/25/21 – Sell to Open 10 WKHS 3/5/21 $17.00 C @ $1.50 (+$1500)
3/5/21 – Expired 10 WKHS 3/5/21 $17.00 C
Profit +$1500
SLV
A Covered Call without assignment.
2/22/21 – Sell to Open 5 SLV 3/5/21 $27.00 C @ 250¢ (+$250)
3/5/21 – Expired 5 SLV 3/5/21 $27.00 C
Profit +$250
Draftkings
A Covered Call without assignment.
3/1/21 – Sell to Open 10 DKNG 3/5/21 $67.00 C @ $2.00 (+$2000)
3/5/21 – Expired 10 DKNG 3/5/21 $67.00 C
Profit +$2000
Cree
A Covered Call without assignment.
2/26/21 – Sell to Open 10 CREE 3/5/21 $123.00 C @ $1.50 (+$1500)
3/5/21 – Expired 10 CREE 3/5/21 $123.00 C
Profit +$1500
Netapp
A Covered Call without assignment.
3/1/21 – Sell to Open 10 NTAP 3/5/21 $64.50 C @ $1.25 (+$1250)
3/5/21 – Expired 10 NTAP 3/5/21 $64.50 C
Profit +$1250
Tesla
A Covered Call without assignment.
3/1/21 – Sell to Open 2 TSLA 3/5/21 $707.50 C @ $21.50 (+$4300)
3/5/21 – Expired 2 TSLA 3/5/21 $707.50 C
Profit +$4300
Peloton
A Covered Call without assignment. This one I didn’t want assignment, I sold a Call with the Strike Price much lower than my buy-in price.
3/1/21 – Sell to Open 20 PTON 3/5/21 $130.00 C @ 80¢ (+$1600)
3/5/21 – Expired 20 PTON 3/5/21 $130.00 C
Profit +$1600
SLV
This was Grasshopper Covered Call without assignment.
2/22/21 – Sell to Open 1 SLV 3/5/21 $27.00 C @ 50¢ (+$50)
3/5/21 – Expired 1 SLV 3/5/21 $27.00 C
Profit +$50
MOMO
Another Grasshopper trade without assignment.
3/1/21 – Sell to Open 2 MOMO 3/5/21 $17.00 C @ 40¢ (+$80)
3/5/21 – Expired 2 MOMO 3/5/21 $17.00 C
Profit +$80
Total Weekly Gain $14,280
This lock-in money looks really good, but as I said, my account is way down. Not only me, but every investor is looking for a big pop in the market sometime today. Let’s hope it happens. I’m still worried!
Market going to open soon so I’ll wrap this up.
Successful trading,
Steve
The Options Coach