Results Week Ending 5/22/20
I just had a huge week! It’s not the biggest since Main Street beats Wall Street’s inception but I only had 1 bigger week. It was back at week ending 9/22/16 where I rang up $21,100.
Having a job is very important, and trading should not be done in lieu of a job. Unless you’re a millionaire! But, everyone should learn how to invest or trade for your retirement years. Or for when a coronavirus comes around.
Because of the coronavirus Fiore’s Pizza is doing NO business. If I didn’t have my trading I’d be very stressed out right now. Like I said, I like having a job alone with my trading, but in times like this when my business income is cut off, I’m extremely happy I have my trading. Not only am I bringing in nice money, the last few weeks I’ve been knocking the cover off the ball!
Start learning this shit! You’ll thank me some day!
You don’t need a huge account. If you can put 50 grand in an account you can easily bring in $400 or $500 a week. If you have less money maybe you can bring in $100 or $200 a week. What’s wrong with that? I have some young students who have about 5 grand and they have been making a few hundred a week.
Let’s take a look at why I’m so pumped. I made a lot of moves this week but take a look at the result. The trades that made this week so different are 2 LEAPS sales and my Nvidia Triple Play Hedge. The Triple Play Hedge worked unbelievable! The result was over a $6000 profit.
The first 2 trades listed are the sale of a LEAPS with Marvell (MRVL) and Apple (AAPL).
Marvell
I did get into this position back in October but I just got out on Wednesday. It was a 10 contract LEAPS and I locked in $3300.
10/22/19 – Buy to Open 10 MRVL 1/21/22 $25.00 C @ $5.20
5/20/20 – Sell to Close 10 MRVL 1/21/22 $25.00 C @ $8.50
Profit +$3300
Apple
Apple was only a 1 contract, and I just got in on 4/3/20. I held this LEAPS for about 6 weeks and locked in $5350.
4/3/20 – Buy to Open 1 AAPL 1/21/22 $245.00 C @$41.50
5/20/20 – Sell to Close 1 AAPL 1/21/22 $245.00 C @ $95.00
Profit +$5350
RH – Covered Call
RH was a 1 contract Covered Call where I was assigned. I made $1200 on the stock sale and the $400 premium. The crazy thing about this trade is I bought the stock at $155.50 and on Friday the stock closed at $198.18. This is a great example of an Opportunity Lost. If I only bought the stock and never sold the call I would have made over $4200 on the 100 shares. Because I sold the Call I made $1600. You know how I feel about Opportunity Lose, if not read the page.
5/13/20 – Buy 100 Shares RH @ $155.50
5/22/20 – Assigned 100 Shares RH @ 167.50
Profit +$1200
5/18/20 – Sell to Open 1 RH 5/22/20 $167.50 C @ $4.00 (+$400)
5/22/20 – Expired 1 RH 5/22/20 $167.50 C
Profit +$400
Draftking
This was a 2 contract Covered Call where I wasn’t assigned. I still own the stock and I already sold a $30 Call for next week.
5/18/20 – Sell to Open 2 DKNG 5/22/20 $30.00 C @ $2.00 (+$400)
5/18/20 – Expired 2 DKNG 5/22/20 $30.00 C
Profit +$400
Peloton
Like Draftknig this was a Covered Call where I wasn’t assigned. With Peloton I also sold a Call for next week.
5/18/20 – Sell to Open 10 PTON 5/22/20 $48.00 C @ 50¢ (+$500)
5/22/20 – Expired 10 PTON 5/22/20 $48.00 C
Profit +$500
Nutanix – Covered Call
This was a Covered Call with assignment.
5/20/20 – Buy 1000 Shares NTNX @ $22.50
5/22/20 – Assigned 1000 Shares NTNX @ $23.00
Profit +500
5/20/20 – Sell to Open 10 NTNX 5/22/20 $23.00 C @ 60¢ (+$600)
5/22/20 – Expired 10 NTNX 5/22/20 $23.00 C
Profit +$600
Square
With Square I sold a Naked Call. The stock went above my Strike Price and because of multiple downgrades I didn’t Cover, and I didn’t sell or roll-out the Call. The result is I’m short 500 shares of SQ at $80, my Strike. This might not be for Grasshoppers. What I did is a very dangerous move. I’m now short on a stock that moves pretty good. For some reason I’m not worried. I still think SQ will be going down. This is why I did a Naked Call in the first place. If you have any questions how this position ended up with a Short position send me an email. It’s important!
I still keep my $750 premium!
5/18/20 – Sell to Open 5 SQ 5/22/20 $80.00 C @ $1.50 (+$750)
5/22/20 – Expired 5 SQ 5/22/20 $80.00 C
Profit +$750
Nvidia – Triple Play Hedge
I saved the best for last. This Triple Play Hedge worked perfectly! I bought the 200 shares of NVDA at $350. I sold the $360, $370 and the $380 Calls, 2 contracts each. The stock closed on Friday at $361.05. I was assigned at $360 making $2000 on the stock sale. The 3 Calls brought is total premiums of $4490. With the assignment sale making $2000, this Triple Play Hedge brought is a total of $6490… Fantastic!
5/18/20 – Buy 200 Shares NVDA @ $350.00
5/22/20 – Assigned 200 Shares NVDA @ $360.00
Profit +$2000
5/18/20 – Sell to Open 2 NVDA 5/22/20 $360.00 C @ $10.25 (+$2050)
5/22/20 – Expired 2 NVDA 5/22/20 $360.00 C
Profit +$2050
5/18/20 – Sell to Open 2 NVDA 5/22/20 $370.00 C @ $7.20 (+$1440)
5/22/20 – Expired 2 NVDA 5/22/20 $370.00 C
Profit +$1440
5/18/20 – Sell to Open 2 NVDA 5/22/20 $380.00 C @ $ 5.00 (+$1000)
5/22/20 – Expired 2 NVDA 5/22/20 $380.00 C
Profit +$1000
Total Weekly Gain +$19,490
Like I said earlier, start studying! I’m here for you to answer any questions.
Have a great weekend. Stay safe! Let’s hope this corona-shit is over soon. Even when the coronavirus is gone the market will still be here.
Successful Trading,
Steve
The Options Coach