Results Week Ending 6/18/21

Friday’s trading session started off bad and got worse as the day went on. When all was said and done the Dow ended the day down over 530 points.

I made a lot of trades again this week. My Grasshopper Trades have been high in numbers, I hope they’re helping. I had 10 Grasshopper Trades expire on Friday with only 1 assignment. My total trades expiring was 21 with 2 assignments, 1 Grasshopper and 1 Master Trade. At Thursday’s close I was set to have many assignments, but Friday’s trading session threw a monkey wrench into that situation with many stocks dropping below their Strike Prices.

I’m holding a lot of stock that are below the purchase price, but luckily they’re not too far below so with a good day on Monday I’ll be very busy selling Calls against the shares.

Let’s take a look at the Grasshopper Trades of this week.

 

MOMO

I bought MOMO back on 3/25 for $15.25. I’ve been selling Calls but the stock dropped a bit so this Call was a 1 month option. I only received a 2.3% premium for the month but the stock did bounce up a bit so I should get a Call sold on Monday.

5/18/21 – Sell to Open 4 MOMO 6/18/21 $16.00 C @ 35¢ (+$140)

6/18/21 – Expired 4 MOMO 6/18/21 $16.00 C 

 Profit +$140

SLV

SLV is another not working the way I want. This was about a 3 week trade and was a 2.26% return. This has been a bit of a thorn in my side. I also own 500 shares as a Master Trade.

5/26/21 – Sell to Open 1 SLV 6/18/21 $26.50 C @ 60¢ (+$60)

6/18/21 – Expired 1 SLV 6/18/21 $26.50 C

Profit +$60

U.S. Steel

This is a U.S. Steel Trade where I paid a little too much for the stock, $28. This was a 10 day trade and my return was 2.1%. I’m happy with that.

6/8/21 – Sell 2 X 6/18/21 $28.00 C @ 60¢ (+$120)

6/18/21 – Expired 2 X 6/18/21 $28.00 C 

 Profit +$120

NIO

This was a NIO where I bought the 300 shares at different times. Not sure what the average price is. I’ll take the $150!

6/8/21 – Sell to Open 3 NIO 6/18/21 $49.00 C @ 50¢ (+$150)

6/18/21 – Expired 23 NIO 6/18/21 $49.00 C 

Profit +$150

Workhorse

I bought these shares at $15.60 on Tuesday and sold an In-the-Money Covered Call with a Strike Price of $15. Set stock closed a little lower than $15 so I was not assigned so I got a great premium and I keep the stock. The premium was 9%. This turned out to be a nice trade. Hopefully I get another Call sold on Monday.

6/14/21 – Sell to Open 2 WKHS 6/18/21 $15.00 C @ $1.40 (+$280)

6/18/21 – Expired 2 WKHS 6/19/21 $15.00 C

Profit +$280

3 D Systems

I was hoping for an assignment here but it didn’t happen with the bad day on Friday. But I did get a 4.2% premium for the 4 day Trade.

6/14/21 – Sell to Open 2 DDD 6/18/21 $29.50 C @ $1.25 (+$250)

6/18/21 – Expired 2 DDD 6/18/21 $29.50 C 

 Profit +$250

 ContextLogic

This was an In-the-Money Covered Call with ContextLogic (WISH). I bought the stock at $11.46 and sold the $11 Call. I received a great premium of 13% but I gave back 46¢ on the assignment. My total return was 9% and this deal is over. This was a great In-the-Money play.

In-the-Money Covered Call

6/14/21 – Buy 200 Shares WISH @ $11.46

6/18/21 – Assigned 200 Shares WISH @ $11.00 

 Loss -92

6/14/21 – Sell to Open 2 WISH 6/18/21 $11.00 C @ $1.50 (+$300)

6/18/21 – Expired 2 WISH 6/18/21 $11.00 C

 Profit +$300

Palantir

I bought the stock at $25 and sold the $25.50 Call. I missed getting assigned by a few cents with the bad day on Friday. This was a 2.2% return for the 3 day play.

6/15/21 – Sell to Open 2 PLTR 6/18/21 $25.50 C @ 55¢ (+$110)

6/18/21 – Expired 2 PLTR 6/18/21 $25.50 C 

Profit +$110

U.S. Steel

Another X Covered Call without assignment. This was a 1.8% return.

6/15/21 – Sell to Open 2 X 6/18/21 $27.50 C @ 50¢ (+$100)

6/18/21 -Expired 2 X 6/18/21 $27.50 C 

Profit +$100

U.S. Steel

This is the last of my Grasshopper Trades and the 3rd X Covered Call. The steel stocks did not do well this week and I was not assigned on any of my X trades. This was a return of 2.1%.

6/17/21 – Sell to Open 2 X 6/18/21 $24.00 C @ 50¢ (+$100)

6/18/21 – Expired 2 X 6/18/21 $24.00 C 

Profit +$100

Total Weekly Gain +$1518

I’m very happy with all the returns I got this week. The $1518 is a very nice Grasshopper week. For all of my trading this week I brought in a fantastic $11,418.

Without the bad market day on Friday I would have gotten assigned on more Covered Calls and this would have been a much better week. But, I’m very happy!

I would like to wish all our fathers a very happy Father’s Day. I’ll be spending it with my son and daughter, along with my 2 beautiful grandchildren.

 

Successful trading,

Steve

The Options Coach