Results Week Ending 11/19/21
I didn’t get my weekly results posted last week. I was on the road! I went down to Myrtle Beach for the Myrtle Beach Invitational. This is a tip-off tournament for 8 division one basketball teams.
One of my best friends was a teammate of mine when we played college basketball. His name is Gerry Spinoso. Gerry’s son Nick is a freshman playing for the University of Pennsylvania. UPENN is an Ivy League school and is one of the best colleges in the world. It’s also a great basketball program. They play at the Palestra in Philadelphia.
Gerry and I took a road trip to Las Vegas when we finished college. We decided to take another to Myrtle Beach this week to see Nick play basketball. We just got home late last night.
We started the trip last week and made a 2 day stop in Philly to watch UPENN play their home opener at the Palestra. After the stop in Philly we continued to Myrtle Beach for the tournament. We spent 4 days in Myrtle and headed home early yesterday morning. UPENN has one more game but they had a day off on Saturday so we headed home. UPENN’s last game of the tournament is today at 12 noon and it’s on TV. I’m writing this post and will be watching the game on the ESPN News station. If you want to watch Nick play, tune in. You can watch for Nick Spinoso, #13. UPENN is playing Old Dominion.
With this road trip I didn’t get to write my results for last week or this week so I’ll get it done now before the game.
I was having a great week with both last week and this week. Last week was spoiled with Peloton. If you remember I had 1000 shares going into earnings. This turned out to be a mistake. Bad earnings caused the stock to drop about $40.
I decided to bail out, take the loss, and move on. I don’t see good things for PTON in the near future. Anyone can pick a position and be wrong. The trick is to not stay wrong. I got into PTON at $93 and got out at $53.20. The stock is now below $50. This is a huge loss! I just have to move on, take the money, and get into a better position.
I took a $39,800 loss. Not good! However, I had a great week the week before and I had a great week this week putting the money to work elsewhere.
The rest of the trades went well last week helping with the big hit I took on PTON. Below are all the trades I made last week.
Week Ending 11/12/21
5/5/21 – Buy to Open 10 NKLA 1/20/23 $12.50 C @ $4.60
11/8/21 – Sell to Close 10 NKLA 1/20/23 $12.50 C @ $6.10
Profit +$1500
10/27/21 – Buy 1000 Shares PTON @ $93.00
11/9/21 – Sell 1000 Shares PTON @ 53.20
Loss -$39,800
5/26/21 – Buy 100 Shares AMAT @ $136.70
11/12/21 – Sell 100 Shares AMAT @ 154.70
Profit +$1800
11/3/21 – Sell to Open 10 SNAP 11/12/21 $57.00 C @ 50¢ (+$500)
11/12/21 – Expired 10 SNAP 11/12/21 $57.00 C
Profit +$500
11/8/21 – Sell to Open 1 NVDA 11/12/21 $315.00 C @ $8.00 (+$800)
11/12/21 – Expired 1 NVDA 11/12/21 $315.00 C
Profit +$800
11/8/21 – Sell to Open 10 AMD 11/12/21 $160.00 C @ $1.25 (+$1250)
11/12/21 – Expired 10 AMD 11/12/21 $160.00 C
Profit +$1250
11/8/21 – Sell to Open 10 AMD 11/12/21 $155.00 C @ $3.00 (+$3000)
11/12/21 – Expired 10 AMD 11/12/21 $155.00 C
Profit +$3000
11/9/21 – Sell to Open 10 F 11/12/21 $20.00 C @ 70¢ (+$700)
11/12/21 – Expired 10 F 11/12/21 $20.00 C
Profit +$700
11/8/21 – Sell to Open 1 NVAX 11/12/21 $195 C @ $1.60 (+$160)
11/12/21 – Expired 1 NVAX 11/12/21 $195.00 C
Profit +$160
As you can see PTON killed what would have been a very nice week. I ended up having a total weekly loss of -$30,090. I must get over this and move on. Now let’s get into this week’s results.
This week ending 11/19/21 was a bit better. I had a lot of trades come to an end and locked in a total of $19,760. This was a good “bounce back” from last week. I only made one Day Trade, which is listed 1st. I also had 2 big assignments, one with NVDA and the other with AMD. The NVDA was the big winner of the week. I bought 800 shares at $301 and sold 8 contracts of the 11/19/21 $310 Calls. I was assigned making $9 on the stock for a gain of $7200 and I brought in a premium of $4000.
I also had a few Grasshopper Trades expire for a total of $300. Let’s take a look at my trades before I close the computer to watch UPENN play Old Dominion.
Day Trade
11/16/21 – Buy 1000 Shares SQ @ $233.00
11/16/21 – Sell 1000 Shares SQ @$233.25
Profit +$250
8/23/21 – Sell to Open 10 DDD 11/19/21 $40.00 C @ $1.05 (+$1050)
11/19/21 – Expired 10 DDD 11/19/21 $40.00 C
Profit +$1050
10/8/21 – Sell to Open 50 SNDL 11/19/21 $1.00 C @ .05¢ (+$250)
11/19/21 – Expired 50 SNLD 11/19/21 $1.00 C
Profit +$250
101/15/21 – Sell 10 BTU 11/19/21 $18.00C @ $1.45 (+$1450)
11/19/21 – Expired 10 BTU 11/19/21 $18.00 C
Profit +1450
11/9/21 – Sell to Open 10 BBIG 11/19/21 $6.00 C @ 10¢ (+$100)
11/19/21 – Expired 10 BBIG 11/19/21 $6.00 C
Profit +$100
11/15/21 – Sell to Open 10 F 11/19/21 $20.00 C @ 35¢ (+$350)
11/19/21 – Expired 10 F 11/19/21 $20.00 C
Profit +$350
Assigned Covered Call
11/16/21 – Buy 800 Shares NVDA @ $301.00
11/19/21 – Assigned 800 Shares NVDA @ $310
Profit +$7200
11/16/21 – Sell to Open 8 NVDA 11/19/21 $310.00 C @ $5.00 (+$4000)
11/19/21 – Expired 8 NVDA 11/19/21 $310.00 C
Profit +$4000
11/11/21 – Sell to Open 1 NVAX 11/19/21 $195.00 C @ $1.60 (+$160)
11/19/21 – Expired 1 NVAX 11/19/21 $195.00 C
Profit +$160
Assigned Covered Call
11/8/21 – Buy 1000 Shares AMD @ $151.00
11/19/21 – Assigned 1000 Shares AMD @ $152.50
Profit +$1500
11/16/21 – Sell to Open 10 AMD 11/19/21 $152.50 C @ $1.50 (+$1500)
11/19/21 – Expired 1- AMD 11/19/21 $152.50 C
Profit +$1500
11/16/21 – Sell to Open 10 SQ 11/19/21 $255.00 C @ 35¢ (+$350)
11/19/21 – Expired 10 SQ 11/19/21 $255.00 C
Profit +$350
Grasshopper Trade
8/23/21 – Sell to Open 2 DDD 11/19/21 $40.00 C @ $1.05 (+$210)
11/19/21 – Expired 2 DDD 11/19/21 $40.00 C
Profit +$210
Grasshopper Trade
8/23/21 – Sell to Open 2 SKLZ 11/19/21 $17.50 C @ 45¢ (+$90)
11/19/21 – Expired 2 SKLZ 11/19/21 $17.50 C
Profit +$90
10/19/21 – Sell to Open 10 AEHR 11/19/21 $17.50 P @ $1.30 (+$1300)
11/19/21 – Expired 10 AEHR 11/19/21 $17.50 P
Profit +$1300
Total Weekly Gain +$19,760
This was a great bounce back from the big PTON loss. We are close to December, I hope I can finish the year strong.
I’m well aware I didn’t get to some of your emails. I didn’t have much time being on the road. If you have any questions about this post please send an email. I’m back home!
Check out Nick’s basketball game. It starts in a few minutes.
Enjoy the rest of the weekend and enjoy your Thanksgiving.
Happy Thanksgiving!
Successful trading,
Steve
The Options Coach