Results Week Ending 3/18/22
This has been the craziest start to a year I ever had. I really haven’t been trading, at least not in my normal strategies. And, as you know, I haven’t been posting. I’m hoping things will be back to normal soon. But, right now this market is just way too volatile for me. Just because I haven’t been trading doesn’t mean my account isn’t down a ton because it is. I have been making a few trades but have not posted them. I feel the trades I’m making do not fit into Main Street beats Wall Street as a learning site. I do not want Grasshoppers making these trades. Like I said, hopefully things will be back to normal very soon.
My only advice is to be very careful!
I did make some trades this week that fit into my trading style. I did have them listed on my active trades page but did not post them. This week looked a little like a normal week and I took advantage of it. My trades were with Tesla and Nvidia, 2 very volatile stocks. But this week they only moved up. I did 4 Covered Calls and I was assigned on all 4. It really felt good having a semi-normal week.
I have gotten a few emails asking about the 20:1 splits with both Google and Amazon. I hope to answer all the emails this week. I like both of these with my split strategy. They are very high stocks so I didn’t do anything yet. With the market being so volatile it’s a bit scary with $3000 stocks. I’m not sure what I’m gonna do but buying a LEAPS option after the splits I feel will be a good move. These stocks will be down below $200 a share. I think Amazon will be moving up big after the split. There will be a lot of people getting on that cannot afford the shares now. I hope some of the volatile dies down. I’m gonna try to post my thoughts about both Google and Amazon very soon. Right after the NCAA basketball tournament lol.
Below are the trades I made this week. Some of the profits could have been larger with the assignments but I was being very careful. Some of the positions were naked until the stocks got close to my Strike Price.
TSLA Assigned Covered Call
3/16/22 – Buy 100 Shares TSLA @ $840.00
3/18/22 – Assigned 100 Shares TSLA @ $850.00
Profit +$1000
3/16/22 – Sell to Open 1 TSLA 3/18/22 $850.00 C @ $6.00 (+$600)
3/18/22 – Expired 1 TSLA 3/18/22 $850.00 C
Profit +$600
TSLA Assigned Covered Call
3/17/22 – Buy 100 Shares TSLA @ $854.00
3/18/22 – Assigned 100 Shares TSLA @ $855.00
Profit +$100
3/17/22 – Sell to Open 1 TSLA 3/18/22 $855.00 C @ $10.00 (+$1000)
3/18/22 – Expired 1 TSLA 3/18/22 $855.00 C
Profit +$1000
TSLA Assigned At-the-Money Covered Call
3/17/22 – Buy 100 Shares TSLA @ $870.00
3/18/22 – Assigned 100 Shares TSLA @ $870.00
Profit +0
3/17/22 – Sell to Open 1 TSLA 3/18/22 $870.00 C @ $7.00 (+$700)
3/18/22 – Expired 1 TSLA 3/18/22 $870.00 C
Profit +$700
NVDA Assigned Covered Call
3/16/22 – Buy 200 Shares NVDA @ $245.00
3/18/22 – Assigned 200 Shares NVDA @ $250.00
Profit +$500
3/17/22 – Sell to Open 2 NVDA 3/18/22 $250.00 C @ $2.50 (+$500)
3/18/22 – Expired 2 NVDA 3/18/22 $250.00 C
Profit +$500
Total Weekly Gain +$4400
It felt good having a semi-normal week. Hopefully it’s a sign of things to come.
On a different note, I run a “Sweet 16 Final Four” pool. As in past years I use Main Street beats Wall Street’s site to keep pool members informed on who is left in the pool as teams get knocked out. You will see a temporary button on the Home Page for people to go to get pool information. This button will be gone as soon as the NCAA tournament is over. The pool is picking the final 4 teams out of the teams that make the Sweet 16. If anyone is interested in joining the pool send me an email and I will email you an entry sheet.
As usually, email me with any questions.
Successful trading,
Steve
The Options Coach