Out of Another 10 Contract Nvidia Call

I sold 10 NVDA Calls on Monday and bought them back on Tuesday for a $1150 Profit. Later in the day on Tuesday the stock went back up and I sold another 10 Calls for a $1500 premium.

Today with the stock down I bought back these Calls. This time I sold 10 contracts for a premium of $1.50 and bought them back for 30¢ for a profit of $1200.

1/4/22 – Sell to Open 10 NVDA 1/7/22 $307.50 C @ $1.50 (+$1500

1/5/22 – Buy to Close 10 NVDA 1/7/22 $307.50 C @ 30¢ (-$300) 

Profit +$1200 

I really don’t like getting out of these positions before expiration but the stock has been very volatile so I’m taking advantage of it.

Today I also made a Day Trade with General Motors (GM) for a profit.

1/5/22 – Sell to Open 10 GM 1/7/22 $67.00 C @ 75¢ (+$750)

1/5/22 – Buy to Close 10 GM 1/7/22 $67.00 C @ 40¢ (-$400)

Profit +$350

I normally don’t do Day Trades with options but on this one I sold a Naked Call and as soon as I did the stock moved down. The premium went from 75¢ down to 40¢ so I decided to do the “Buy to Close” to end the trade with a $350 profit in about 10 minutes.

In addition to this Day Trade I made 4 Day Trades with Boeing totaling $500. I didn’t get to post them because I was moving too fast. Each trade I was in for between 5 and 10 minutes. Here are the gains on each trade:+$50, +$30, +$90 and +360.

This week is shaping up to be a nice opening week of the year.

 

Successful trading,

Steve

The Options Coach