Results Week Ending 11/26/21
I hope everyone had a great Thanksgiving weekend. I was up in Boston spending it with my wife’s family. I’m back to NY and getting ready to watch some football, and patiently waiting to see what tomorrow morning’s open will be like.
What a roller coaster ride this week was. I know a lot of people took big losses on Friday’s bloodbath. There is an old adage: It’s time to buy when there’s blood in the streets. We just have to determine if there’s blood in the street or is this pull-back just beginning?
Friday did some damage to my account but I actually had a pretty good week. I started the week with some nice gains. Take a look at the first 6 trades below. I exited them on Monday, 11/22. With NVDA and TSLA I entered these positions on 11/9. I bought 2 NVDA Calls and 1 TSLA Call. Both not expiring until 3/18/22. With both up I decided to take profit, and nice profit it was, +$1800 and +$5600 respectively. I know they weren’t to expire until 3/18/22 but with the drop on Friday I look like I know what I’m doing.
I also got out of long option positions with MU and AAPL. With MU I only made $200 but with AAPL I made $2000. I believe the key to Long Options is getting out when you have a profit. I don’t buy short term options. I like to go out a bit with my Expiration Date. It costs a little more but I get a lot more protection.
The last 2 trades I exited on Monday were very profitable Day Trades with NVDA and TSLA.
The rest of my positions I held until Friday. I was assigned on my NVAX Call because the stock went up with the new COVID problem.
As I said, I had a pretty nice week. I brought in some real nice money but like everyone else my account took a little hit on Friday because of my long positions. I ended up locking in $16,740. If I hadn’t Friday would have been a serious problem. Jumping out of some long options also helped me a lot because I wasn’t holding the positions for the bloodbath.
Below are all the trades that I exited or expired this week.
11/9/21 – Buy to Open 2 NVDA 3/18/22 $320.00 C @ $39.25
11/22/21 – Sell to Close 2 NVDA 3/18/22 $320.00 C @ $48.25
Profit +$1800
11/9/21 – Buy to Open 1 TSLA 1/21/22 $1175.00 C @ $134.00
11/22/21 – Sell to Close 1 TSLA 1/21/22 $1175.00 C @ $190.00
Profit +$5600
7/1/21 – Buy to Open 2 MU 6/17/22 $80.00 C @ $12.80
11/22/21 – Sell to Close 2 MU 6/17/22 $80.00 C @ $13.80
Profit +$200
1/27/21 – Buy to Open 5 AAPL 1/20/23 $145.00 C @ $28.50
11/22/21 – Sell to Close 5 AAPL 1/20/23 $145.00 C @ $32.50
Profit +$2000
Day Trade
11/22/21 – Sell to Open 6 NVDA 11/26/21 $350.00 C @ $5.00
11/22/21 – Buy to Close 6 NVDA 11/26/21 $350.00 C @ $3.00
Profit +$1200
Day Trade
11/22/21 – Sell to Open 1 TSLA 11/26/21 $205.00 C @ $25.00
11/22/21 – Buy to Close 1 TSLA 11/26/21 $205.00 C @ $16.50
Profit +$850
11/8/21 – Sell to Open 4 NKLA 11/26/21 $19.00 C @ 35¢ (+$140)
11/26/21 – Expired 4 NKLA 11/26/21 $19.00 C
Profit +$140
11/15/21 – Sell to Open 10 SNAP 11/26/21 $61.00 C @ 75¢ (+$750)
11/26/21 – Expired 10 SNAP 11/26/21 $61.00 C
Profit +$750
Assigned Covered Call
11/3/21 – Buy 100 NVAX Shares @ $194.00
11/26/21 – Assigned 100 Shares NVAX @ $197.50
Profit +$350
11/19/21 – Sell to Open 1 NVAX 11/26/21 $197.50 C @ $6.00 (+$600)
11/26/21 – Expired 1 NVAX 11/26/21 $197.50 C
Profit +$600
11/22/21 – Sell to Open 10 F 11/26/21 $20.00 C @ 40¢ (+$400)
11/26/21 – Expired 10 F 11/26/21 $20.00 C
Profit +$400
11/22/21 – Sell to Open 1 TSLA 11/26/21 $1205.00 C @ $25.00 (+$2500)
11/26/21 – Expired 1 TSLA 11/26/21 $1205.00 C
Profit +$2500
11/24/21 – Sell to Open 10 SQ 11/26/21 $222.50 C @ 35¢ (+$350)
11/26/21 – Expired 10 SQ 11/26/21 $222.50 C
Profit +$350
Total Weekly Gain +$16,740
I have a decent amount of liquidity with my account so if it looks like the market will rebound I’ll look to buy some long term options on some beaten down stocks. I’m keeping a close eye on fintechs. Stocks like SQ, PYPL and GPN. They are all good companies and their stocks are all down the last month. I already bought 5 contracts of SQ expiring on 3/18/22, 2 contracts of PYPL expiring on 4/14/22 and 5 contracts of GPN expiring on 2/18/22. If they start to move as a group I’ll add to these positions.
Enjoy the rest of the weekend!
Successful trading,
Steve
The Options Coach