Results Week Ending 10/8/21
As you know I’ve been making a lot less Grasshopper Trades lately. I’ve been working hard on adding Day Trading to my tool box. I never wanted to be a Day Trader, and still don’t. However, I’ve been having some luck and I feel added to my normal trading could be a nice weapon.
I’ve made a bunch of Day Trades and many went well in only a few minutes. If it doesn’t go so well I get out with a small loss or if I like the stock I’ll sell Calls and bring in premiums. I do not post all my Day Trades unless I think it would be a good learning trade or I changed it from a Day Trade to a trade where I sell a 1 week option. Then it gets listed in my active positions.
All trades don’t go well. You must understand, all trades are not winners. It’s OK to be wrong. The trick is if a trade goes against you, you don’t stay wrong. Get out! Some people don’t like taking losses and they hang in there and the trade becomes a big loser. The best traders are the ones who get out of losing positions the fastest. Believe me, I know. I hung in many trades too long. Now I’m trying to get out and liquidate. By the end of the year I’ll be out of all my bad trades. I’ll take losses and I’ll get Tax write offs, and move on. In the meantime I’ll keep taking in money. This week I didn’t make any Grasshopper Trades but I had a very good week with my Master Trades. The Trades are below.
10/1/21 – Sell to Open 10 PTON 10/8/21 $87.00 C @ $2.50 (+$2500)
10/4/21 – Buy to Close 10 PTON 10/8/21 $87.00 C @ $1.00 (-$1000)
Profit +$1500
With this UVXY trade I bought 2000 shares and sold 1000 at a time.
9/21/21 – Buy 2000 Shares UVXY @ $23.40
10/4/21 – Sell 1000 Shares UVXY @ $25.00
Profit +$1600
10/4/21 – Sell 1000 Shares UVXY @ $24.50
Profit +$1100
10/4/21 – Buy to Open 1 MSFT 1/21/22 $280.00 C @ $17.00
10/5/21 – Sell to Close 1 MSFT 1/21/22 $280.00 C @ $20.00
Profit +$300
9/28/21 – Buy to Open 5 SQ 10/29/21 $245.00 C @ $12.20
10/7/21 – Sell to Close 5 SQ 10/29/21 $245.00 C @ $13.20
Profit +$500
9/13/21 – Sell to Open 10 FCEL 10/8/21 $7.00 C @ 25¢ (+$250)
10/8/21 – Expired 10 FCEL 10/8/21 $7.00 C
Profit +$250
9/29/21 – Sell to Open 10 BBIG 10/8/21 $9.00 C @ 25¢ (+$250)
10/8/21 – Expired 10 BBIG 10/8/21 $9.00 C
Profit +$250
10/1/21 – Sell to Open 20 UVXY 10/8/21 $23.50 C @ $1.50 (+$3000)
10/8/21 – Expired 20 UVXY 10/8/21 $23.50 C
Profit +$3000
Assigned At-the-Money Covered Call
10/4/21 – Buy 1000 Shares PTON @ $85.00
10/8/21 – Assigned 1000 Shares PTON @ $85.00
Profit $0
10/5/21 – Sell to Open 10 PTON 10/8/21 $85.00 C @ $1.50 (+$1500)
10/8/21 – Expired 10 PTON 10/8/21 $85.00 C
Profit +$1500
Total Weekly Gain +$10,000
This was another great week.
As I wrote earlier, I know I’m not posting as much without doing many Grasshopper Trades, but you must do your own homework. By this I mean you must study. I’ll get out as much as I can while I’m trying to make money, but you must put in the time. You must develop your own style of trading according to your own risk tolerance.
Enjoy the rest of your Columbus Day weekend.
Any questions, email me.
Successful trading,
Steve
The Options Coach