Results Week Ending 3/19/21

I have been very busy the last couple of weeks and my posting has been suffering. The craziness started with me traveling to Florida for the Daytona Bike Week. When I returned home St. Patrick’s Day was upon us. The parade was idle this year because of COVID but I hosted a Party in Greenwich Village. It was for firefighters, who love this day, to celebrate Irish heritage. We had a blast!

Yesterday was the opening of the NCAA basketball tournament. Friends and I have a big party in memory of Tommy Hannifin. Tommy played on the FDNY basketball team with me for many years. He died as a result of the terror attacks on Sept 11th, 2001. We lost 4 guys from that team.

Also, I’ve been very busy teaching options trading. It seems like there’s a line outside my house. I take as many as I can. When I was in Florida one of our readers flew in from Chicago to put in a few days with me. I picked up a few more students while I was there. Some say I’m nuts, but I love teaching. For any of the readers, I’ll be back in Ft Lauderdale on April 13th.

Today I’m going to catch up with a little writing and at 6pm I go to the FDNY headquarters to get my COVID vaccine. My kids got it, my wife got it, I guess it’s time for me. 100 million people already took it in the U.S. It must be safe lol.

The market seems to be on the same path of the DOW and the NASDAQ moving in opposite directions most days. Since I’m tech heavy when the NASDAQ goes down it hurts my account a bit. My goal is to keep bringing in my weekly money and when my positions return back to my buy-in price, or I get assigned on my Covered Calls, my account will look great. Right now many of my positions are down so my account is down, but I’ve been able to hit my weekly goal every week. Let’s hope this continues and we get a few days where the DOW and the NASDAQ take off together.

My weekly goal is $10,000. This week I brought in over $15,000. I do have a few positions that are hurting me; Peloton, Palantir and Tesla. With Tesla I’ve been bringing in some nice premiums but the stock dropped the last few days. With Peloton I’m also bringing in premiums. I’ve had Palantir idle for a few weeks. I’m thinking about going out about 6 months with the Expiration Date, lock in a nice premium, and not worry about it for a while. I’ll let you know what I decide. Always remember, the road to success is not always a smooth highway. It’s very important to learn how to use all the option’s tools to get yourself out of danger. This comes with time.

Let’s take a look at the many trades I made this week. I’ll do whatever it takes to keep my weekly goal of $10K coming in. Sometimes it takes a lot of trades.

 

Sundial

This was a 1 month trade but I brought in a 17% return on this low priced stock. I wasn’t assigned so I’ll try to sell another Call this week.

2/16/21 – Sell to Open 50 SNDL 3/19/21 $3.00 C @ 50¢ (+$2500)

3/19/21 – Expired 50 SNDL 3/19/21 $3.00 C

 Profit +$2500

Lexinfintech

This was another 1 month trade with a nice premium. I already sold another Call to expire 4/16.

2/12/21 – Sell to Open 10 LX 3/19/21 $15.00 C @ $1.35 (+$1350)

3/19/21 – Expired 10 LX 3/19/21 $15.00 C

Profit +$1350

Advanced Micro Devices

This was a 5 contract Call without assignment. This was a 2.4% return. I love getting assigned, but I’ll be happy doing this every week.

3/15/21 – Sell to Open 5 AMD 3/19/21 $82.00 C @ $2.00 (+$1000)

3/19/21 – Expired 5 AMD 3/19/21 $82.00 C

Profit +$1000

Workhorse

A Covered Call without assignment. This was a 6.3% return. I’ll definitely be happy doing this every week.

3/15/21 – Sell to Open 10 WKHS 3/19/21 $17.50 C @ $1.00 (+$1000)

3/19/21 – Expired 10 WKHS 3/19/21 $17.50 C

Profit +$1000

Tesla

This is a 2.8% return with assignment. Tesla dropped back a bit. I hope it gets a pop this week so I can get another premium like this.

3/15/21 – Sell to Open 2 TSLA 3/19/21 $720.00 C @ $21.00 (+$4200)

3/19/21 – Expired 2 TSLA 3/19/ $720.00 C

Profit +$4200

Xpeng

XPEV has been very disappointing along with all the EV makers. This one looks like it’s ready to move.

3/15/21 – Sell to Open 10 XPEV 3/19/21 $38.00 C @ 55¢ (+$550)

3/19/21 – Expired 10 XPEV 3/19/21 $38.00 C

Profit +$550

Applied Materials

On Friday it didn’t look like I’d get assigned so I sold another Call to expire next week. This brought in a $2500 premium. Then, later in the day, assignment was looking possible, so I sold a Put to buy another 1000 shares at $116 in case I was assigned, to cover the Call for next week. It turns out I was not assigned and I had the 1000 shares put to me. I now own 2000 shares of AMAT. 1000 has a Call sold and I’ll sell a Call on the other 1000 shares on Monday. If this is not clear send me an email.

3/15/21 – Sell to Open 10 AMAT 3/19/21 $16.00 C @ $1.50 (+$1500)

3/19/21 – Expired 10 AMAT 3/19/21 $116.00 C

Profit +$1500

NIO

Even with NIO down I was able to sell a Call to bring in $400.

3/15/21 – Sell to Open 10 NIO 3/19/21 $50.00 C @ 40¢ (+$400)

3/19/21 – Expired 10 NIO 3/19/21 $50.00 C

Profit +$400

CREE

Covered Call without assignment.

3/16/21 – Sell to Open 10 CREE 3/19/21 $121.00 C @ 93¢ (+$930)

3/19/21 – Expired 10 CREE 3/19/21 $121.00 C

Profit +$930

U.S. Steel

X received a downgrade so I sold a Naked Call. With the stock in the $22 area I sold a $25 Call.

3/15/21 – Sell to Open 10 X 3/19/21 $25.00 C @ 30¢ (+$300)

3/19/21 – Expired 10 X 3/19/21 $25.00 C

Profit +$300

Peloton

With PTON way down I sold a $100 Put. I was not assigned and I keep the $750 premium.

3/15/21 – Sell to Open 10 PTON 3/19/21 $100.00 P @ 75¢ (+$750)

3/19/21 – Expired 10 PTON 3/19/21 $100.00 P

 Profit +$750

Applied Materials

This is the Put I mentioned above with the AMAT Covered Call. I sold a $116 Put and had the shares put to me. I like this stock so I now own 2000 shares; these shares at $116. I keep the $700 premium from selling the Put.

3/19/21 – Sell to Open 10 AMAT 3/19/21 $116.00 P @ 70¢ (+$700)

3/19/21 – Assigned 10 AMAT @ $116.00

Profit +$700 

MOMO

This was the lone Grasshopper Trade. I was not assigned and I already have a Call sold for next week. The one expiring next week gave me a premium of 60¢ for $120. A return of 3.5%.

3/15/21 – Sell to Open 2 MOMO 3/19/21 $17.00 C @ 45¢ (+$90)

3/19/21 – Expired 2 MOMO 3/19/21 $17.00 C

Profit +$90

Total Weekly Gain +$15,270

Any questions send me an email.

Enjoy the weekend!

 

Successful trading,

Steve

The Options Coach