Results Week Ending 2/4/22
I had a watch and see week. I only made 1 trade, and that wasn’t until Friday.
I’m carrying 200 shares of Tesla which is down from my buy-in price. I didn’t want to sell a Call against these shares because this stock can easily move 50 or 60 dollars in a day and I wouldn’t want to get assigned. However, on Friday I did sell a Call.
After the open on Friday I could pretty much see how the stock was going to move for the day. I felt it wasn’t going to make a big move. About 3 hours into the day, with the stock at $925, I sold two contracts of the $930 Calls. I received a premium of $4.50 for $900 on the 200 shares. The stock did go up to $935 but backed off before the close. The stock closed at $923 and I was not assigned.
This was my only trade of the week and I grabbed $900. Not a bad week’s pay for one Day Trade. My account went up a lot more than this because some of my positions moved higher. With my account way down from last year I’m being very careful.
2/4/22 – Sell to Open 2 TSLA 2/4/22 $930.00 C @ $4.50 (+$900)
2/4/22 – Expired 2 TSLA 2/4/22 $930.00 C
Profit +$900
Total Weekly Gain +$900
Even though I only locked in an additional $900 it was still a good week. My account went up nicely.
Another position I want to talk about is my Paper Trade with AT&T. If you remember I bought 1000 shares to capture the dividend. I also sold a Call against these shares. The dividend was paid on Monday, Feb 1st. I’ll write about how this Paper Trade is working out before the open.
I’m sorry for this late report, another busy weekend.
I think this market will be choppy for a while but let’s hope we can have another nice week.
Successful trading,
Steve
The Options Coach