Results Week Ending 3/12/21
Hi Readers, I know Main Street beats Wall Street has been quiet the last week. As most know, I took a little vacation and visited Florida. I flew into Ft Lauderdale, met up with a few friends, hopped on the motorcycles and rode 4 hours north to Daytona where the Daytona Bike Week was held. I had a home in Ft Lauderdale for 15 years so I have a lot of friends in both Lauderdale and up north near Daytona.
We rode back south on Wednesday, spent the rest of the time in Lauderdale, and flew home yesterday, Saturday. I’m back home in NYC, but I’m already booked to go back down on April 13th. I’m going back to look for another home. The winters are getting to me up north.
Being from NY, the news makes it sound like the Floridians are completely irresponsible when it comes to COVID. This is not true. I was pleasantly surprised how responsible they are. Masks are worn in all buildings. The only places it looked a little lacked is in the bars and restaurants. You have to wear a mask in, but then they come off pretty fast. In stores, hotels, elevators, etc, everyone wears masks. I was very happy.
Not only did I have a great time on vacation, but I was able to get enough trading in to make my weekly goal of $10,000. The market started to recover from the sell-off so my account looks a lot better. If the market continues to have trouble I’ll just keep trying to bring in my weekly goal and one at a time my positions will all be back to my buy-in prices. I know I was not on time with posting all my trades, but eventually I got them all to you. If you missed a few they are listed below or on my “Active Trades/Current Positions” page.
Applied Materials
Covered Call without assignment.
3/5/21 – Sell to Open 10 AMAT 3/12/21 $17.00 C @ $1.75 (+$1750)
3/12/21 – Expired 10 AMAT 3/12/21 $17.00 C
Profit +$1750
Workhorse
It looked like I’d get assigned but it was not to be. I’ll get another Call sold this week.
3/8/21 – Sell to Open 10 WKHS 3/12/21 $17.00 C @ $1.50 (+$1500)
3/12/21 – Expired 10 WKHS 3/12/21 $17.00 C
Profit +$1500
Netapp
I was assigned on this Covered Call position. It was an At-the-Money Covered Call so I only made money on my Call. It was a nice premium of $1100. Last week I brought in a $1250 premium. NTAP was a nice purchase for 2 weeks of good premiums.
2/26/21 – Buy 1000 Shares NTAP @ $64.00
3/12/21 – Assigned 1000 Shares NTAP @ 64.00
Profit $0
3/9/21 – Sell to Open 10 NTAP 3/12/21 $64.00 C @ $1.10 (+$1100)
3/12/21 – Expired 10 NTAP 3/12/21 $64.00 C
Profit $1100
Draftkings
Another nice assignment. Made $2300 on the stock sale and the $1000 premium.
10/2/20 – Buy 1000 Shares DKNG @ $63.70
3/12/21 – Assigned 1000 Shares DKNG @ $66.00
Profit $2300
3/9/21 – Sell to Open 10 DKNG 3/12/21 $66.00 C @ $1.00 (+$1000)
3/12/21 – Expired 10 DKNG 3/12/21 $66.00 C
Profit +$1000
Tesla
Tesla started to move this week but no assignment. However, I keep the $3000 premium.
3/10/21 – Sell to Open 2 TSLA 3/12/21 $735.00 C @ $15.00 (+$3000)
3/12/21 – Expired 2 TSLA 3/12/21 $735.00 C
Profit +$3000
Advanced Micro Devices
While in Ft Lauderdale I ran an options trading class. A few people from Fla and one flew in from Chicago. My friend from Chicago has a multimillion dollar condo overlooking the ocean. This is where we held class. During the class I decided to show them how to make a trade so I bought 500 shares of AMD and sold a 5 contract Call. I missed being assigned be 13¢. If the market moves up in the morning I’ll get another Call sold. I did not get to post this trade. This was a 1 day trade made near the end of the trading day on Thursday .
3/11/21 – Sell to Open 5 AMD 3/12/21 $81.50 C @ 70¢ (+$350)
3/12/21 – Expired 5 AMD 3/12/21 $81.50 C
Profit +$350
Peloton
Covered Call without assignment.
3/8/21 – Sell to Open 20 PTON 3/12/21 $125.00 C @ 85¢ (+$1700)
3/12/21 = Expired 20 PTON 3/12/21 $125.00 C
Profit $1700
MOMO
Another MOMO Grasshopper Covered Call without assignment. I’ll take the 2.3% return! And so should you!
3/8/21 – Sell to Open 2 MOMO 3/12/21 $17.00 C @ 40¢ (+$80)
3/12/21 – Expired 2 MOMO 3/12/12 $17.00 C
Profit +$80
Total Weekly Gain +$12,780
Right now the futures are up for the morning open. If the market opens up I have a lot to work with and could set up another nice week of hitting my goal.
I want to say something about mimicking my trades. It’s not always a good Idea. I think I’ve been very clear about this. We all have different account sizes and risk tolerance. I always try to pick trades that will work for me. If I make a small trade that looks like a Grasshopper Trade, or even my Grasshopper Trades, If they don’t work great for me it might not hurt me much. Where if the same trade is made with a smaller account, or is a large percentage of an account, and it doesn’t work well, it might hurt that trader for future trades for a while. You must look at every trade you make and see how it fits with your account size and risk tolerance. Don’t only think that if I made it it’s good for everyone. You must learn how to find trade and do your homework on the stock so if something doesn’t go well you are prepared. This is very important!
Enjoy your Sunday evening.
Successful trading,
Steve
The Options Coach