A Few More Trades to Report
It’s a little tough to be at Daytona Bike Week, make trades and report them when you look out the window and see the sunshine on a beautiful day. I’m doing the best I can! I just walked in from the main drag in Daytona, after being out on the motorcycle most of the day. It was hard to leave the condo today with the market having it’s best day in a long time. A day that traders who are tech heavy desperately. I didn’t stay at my computer until the close and I just saw the NASDAQ was up 464 points today. When I left to get on the motorcycle the index was up 500.
Yesterday I went out before the close also. Before I left I placed a trade with Workhorse (WKHS) but wasn’t filled until after I left. I own 1000 shares at $15.85. I placed an order to sell 10 WKHS 3/12/21 $17 Calls for a premium of $1.50 for $1500. I noticed I was filled this morning but didn’t get time to report.
Sell to Open 10 WKHS 3/12/21 $17.00 C @ $1.50 (+$1500)
This trade gets a Risk Factor 1.
This morning I was filled on 2 trades. I had to get out into the beautiful day so I didn’t get time to report these trades either. The first is with Netapp (NTAP). I own 1000 shares at $64 and today I sold an At-the-Money Covered Call. The way the market has been going I just want to get assigned. I didn’t like the premiums for the $64.50 or the $65 so I went with the $64 Call. I sold 10 NTAP 3/12/21 $64.00 Call for a premium of $1.10 for $1100.
Sell to Open 10 NTAP 3/12/21 $64.00 C @ $1.10 (+$1100)
I was also filled on a Covered Call with Draftkings (DKNG). I’m in the stock at $63.70 and sold the $66 Calls. I sold 10 DKNG 3/12/21 $66 Calls for a premium of $1 for $1000. I could have gone closer to the money for a better premium but I think DKNG can get to $66. If it gets to $66 by Friday this will be a very nice trade.
Sell to Open 10 DKNG 3/12/21 $66.00 C @ $1.00 (+$1000)
Both the NTAP and DKNG trades also get a Risk Factor 1.
With the NASDAQ in a major correction the last couple of weeks I have a lot of stock holdings that are too far below my buy-in price, so I’ll be watching what happens tomorrow to see how I’ll handle these positions. I’m hoping we have another huge day. As you know my weekly goal is $10,000. If I can continue to meet my goal, when my stock holdings recover back to my buy-in price, my account will be back in the game.
In the morning I hope to get some trading in but I’m leaving Daytona to go to my old stomping ground, Ft Lauderdale. I had a home there for close to 15 years.
Successful trading,
Steve
The Options Coach