Results Week Ending 12/3/21

What can you say about these last 2 weeks? If this isn’t testing the strength of your stomach nothing will!  Lucky for me I’ve been building my liquidity. Since I work on margin, it’s a good thing I did. If you look at my trades below that expired this week you will see I brought in $3900. Don’t let this number fool ya! These were Covered Calls and this is the list of premiums I brought in. While I brought in $3900, my account went down about $100K. This hurts! However, I feel I own good stocks and good long term options, and I will recover. Welcome to the stock market.

Do you get the emails I get from companies trying to recruit you to join their newsletters? Even with a market like this they try to convince us that they have the answer to get rich. They have the right stocks to buy and the right stocks to get out of. Incredible! Everyone from Kathi Wood to Warren Buffett is losing millions but they have the answer if you join their service. Don’t fall for it! Do your own homework. Sometimes there is nothing to buy and giving them a subscription fee will not change that. Hang in there! There will be a lot of good buys around very soon. I wrote not long ago that I like fintechs. The ones I like are SQ, PYPL and GPN. They are all very low. Read up on them and see if you feel the same.

Let’s take a look at the trades I made this week.

 

11/29/21 – Sell to Open 3 NVDA 12/3/21 $337.50 C @ $5.00 (+$1500)

12/3/21 – Expired 3 NVDA 12/3/21 $337.50 C

Profit +$1500

11/29/21 – Sell to Open 2 NVDA 12/3/21 $332.50 C @ $7.50 (+$1500)

12/3/21 – Expired 2 NVDA 12/3/21 $332.50 C

Profit +$1500

11/29/21 – Sell to Open 10 F 12/3/21 $20.00 C @ 35¢ (+$350)

12/3/21 – Expired 10 F 12/3/21 $20.00 C

Profit +$350

12/2/21 – Sell to Open 5 PYPL 12/3/21 $187.50 C @ $1.10 (+$550)

12/3/21 – Expired 5 PYPL 12/3/21 $187.50 C

Profit +$550

Total Weekly Gain +$3900

As I wrote earlier, don’t be fooled by this number. My account went down by a very large amount.

Let’s hope things start to turn around. With this presidency I have my doubts. I think we will see a lot of volatility for some time. The things I’m worried about are inflation, unemployment and rate hikes. Good luck!

 

Successful trading,

Steve

The Options Coach