Results WeekEnding 5/29/20
I want to start this weeks report with some moves I made with United Airlines (UAL). Over the last few weeks I made many moves with UAL but the position I want to talk about I entered on 5/18.
I’m not going to make you suffer through this explanation unless you are interested. I am linking the UAL moves to another page for the true students. United Airlines Roll-Out.
OK, let’s get to this week. It was a another very good week! Not as good as the last few, but I cannot complain about a $5805 gain.
It’s a beautiful day in NYC so I’ll get right to the trades so I can get some work done in the yard.
Peloton
This was a day trade. I bought the stock and decided to go in a different direction. The stockinet up 20¢ and I had a $200 gain.
5/26/20 – Buy 1000 Shares PTON @ $43.40
5/26/20 – Sell 1000 Shares PTON @ $43.60
Profit +$200
Square
I had a Short position with Square (SQ) as a result of a Naked Call. The stock went down as a felt it would and I profited $625.
5/22/20 – Short 500 Shares SQ @ $80.00
5/27/20 – Buy 500 Shares SQ @$78.75
Profit +$625
United Airlines
If you read the UAL report I linked above, this is the 1000 shares I sold at a $1 profit.
5/1/20 – Buy 1000 Shares UAL @ $28.00
5/27/20 – Sell 1000 Shares UAL @ $29.00
Profit +1000
Draftking
This was a Draftking (DKNG) Covered Call. The stock shot up and I was assigned. I had a big Opportunity Lost but most know I don’t let this bother me.
5/18/20 – Buy 200 Share DKNG @ $29.80
5/29/20 – Assigned 200 Shares DKNG @ $30.00
Profit +$40
5/22/20 – Sell to Open 2 DKNK 5/29/20 $30.00 C @ $1.00 (+$200)
5/29/20 – Expired 2 DKNG 5/29/20 $30.00 C
Profit +$200
Peloton
This was a Covered Call. I was not assigned.
5/21/20 – Sell to Open 10 PTON 5/29/20 $48.00 C @ 70¢ (+$700)
5/29/20 – Expired 10 PTON 5/29/20 $48.00 C
Profit +$700
Peloton
Another Covered Call where I was not assigned. I still own 2000 shares of PTON.
5/26/20 – Sell to Open 10 PTON 5/29/20 $43.00 C @ $1.65 (+$1650)
5/29/20 – Expired 10 PTON 5/29/20 $43.00 C
Profit +$1650
Occidental Petroleum
Another Covered Call not getting assigned.
5/26/20 – Sell to Open 10 OXY 5/29/20 $15.00 C @ 50¢ (+$500)
5/29/20 – Expired 10 OXY 5/29/20 $15.00 C
Profit +$500
Occidental Petroleum
I felt OXY was gonna drop a little so I sold a In-the-Money Naked Call. This is a very dangerous move but you get a very nice premium. I ended up Covering the Call but was not assigned. I still own 2000 shares of OXY. I bought the shares at $13.90. Check out the premium. It’s a Rate of Return of 4.6% for a 3 day Call.
5/26/20 – Sell to Open 10 OXY 5/29/20 $14.00 C @ .65 (+$650)
5/29/20 – Expired 10 OXY 5/29/20 $14.00 C
Profit +$650
Nvidia
I own 200 shares of NVDA at $361. The stock dropped back a little but I was able to get a 1 day Call sold for a $240 gain. Hopefully I’ll get another Call sold this week.
5/28/20 – Sell to Open 2 NVDA 5/29/20 $360.00 C @ $1.20 (+$240)
5/29/20 – Expired 2 NVDA 5/29/20 $360.00 C
Profit +$240
Total Weekly Gain +$5804
Not bad for a slightly disappointing week. I say disappointing because I like to get assigned. I’m still holding 2000 shares of PTON, 2000 of OXY and 200 of NVDA. If I was assigned on all my Calls the week would have been much better. Don’t worry, I’m not getting greedy! The $5804 is a fantastic week!
Have a great weekend!
Successful Trading,
Steve
The Options Coach