Trades With PENN and PTON

Last week I sold a 10 contract $111 Put with PENN bringing in a premium of $3250. The 1000 shares were put to me at $111. The stock dropped back with the entire NASDAQ. Today with the stock at $102 I just sold a 10 contract Call. I sold 10 PENN 4/1/21 $111 Calls for a premium of 70¢ for $700. It’s not the premium I wanted but the Strike Price is $9 above the stock price. I wanted to get this Call in today because there’s only 2 days left in the week. I don’t think I’ll get assigned so I plan on selling another Call next week. Until then I’ll take the $700.

 

3/30/21 – Sell to Open 10 PENN 4/1/21 $111.00 C @ 70¢ (+$700)

This trade gets a Risk Factor 1.

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I already own shares of Peloton but with this week getting old and the stock much lower than my buy-in price I decided to buy another 1000 shares at $106 and sell a 3 day Call. I sold 10 contracts of the PTON 4/1/21 $107 Calls for a premium of $1.75 for $1750.

 

Buy 1000 Shares PTON @ $106.00

Sell to Open 10 PTON 4/1/21 $107.00 C @ $1.75 (+$1750)

I picked the $107 Strike Price because I want to get assigned. On assignment I’ll make another $1000 on the stock sale. This trade gets a Risk Factor 1.

 

Successful trading,

Steve

The Options Coach