Another Busy Monday

It is very difficult to post trades as I make them when I’m watching charts as I place trades. Especially since I’m using the same computer to write as the one I’m trading with.

I made a few trades so far with Walmart, Occidental Petroleum, Barrick Gold, Square and Tesla.

Walmart

I bought a 1 contract LEAPS on Walmart (WMT) on 5/1. I just sold this position with a nice profit. I paid $15.90 and sold for $24.50. That’s a profit of $860.

5/1/20 – Buy to Open 1 WMT 1/21/22 $120.00 C @ $15.90

8/17/20 – Sell to Close 1 WMT 1/21/20 $120.00 C @ $24.50

Profit +860

Another great example of the power of LEAPS. I invested $1590 and sold for $2450. This $860 profit is a Return on Investment (ROI) of 54%.

Occidental Petroleum

I bought 1000 shares of OXY on 6/8. I bought this position because Warren Buffett invested 10 billion into the company. I’ve been in OXY before but his investment gave me more confidence the stock was gonna do move. We’ll, He was wrong, and I was wrong to have that much confidence in the greatest investor of all times. He completely bailed out of his investment and lose billions. Me, I’m hoping the price of oil will recover and cut down on my loss. However, today I decided to start selling shares. I sold 200 of my 1000 at a big loss. Just with the selling of 200 shares I took a loss of $1930. This has been a very nice year, and my account is up big today, but I’m not happy about this position!

6/8/20 – Buy 200 Shares OXY @ $23.75

8/17/20 – Sell 200 Shares OXY @ $14.10

Loss -$1930

I’m gonna work hard this week to get this money back.

Barrick Gold

On 8/4 I bought 1000 shares of Barrick Gold (GOLD) and 1000 shares of GDX, a Gold mining ETF. Both dropped after I bought. Today gold is up big to the point I was making money with my GOLD position. GDX is still a little lower than where I bought.

I really like the gold stocks and ETF, but I think I might have jumped in a little more than I wanted. Today I decided to cut my down on my gold percentage of my portfolio. I sold the 1000 shares of GOLD and kept the 1000 shares of GDX. Like I said I like gold but I feel better not having so much.

8/4/20 – Buy 1000 Shares GOLD @ $29.55

8/17/20 – Sell 1000 Shares GOLD @ $29.75

Profit +$200

Square

On 8/5 I bought 500 shares of SQ at $153.25. Today I bought another 500 shares at $147.50. I now own 1000 shares of SQ at $150.37. I sold 10 contracts of the SQ 8/21/20 $155 Calls for a premium of $1.20.

Sell to Open 10 SQ 8/21/20 $155.00 C @ $1.20 (+$1200)

Today SQ is on the move, it’s up $7.

Tesla

Tesla is running crazy today. I just bought another LEAPS. This stock is splitting at the end of the month.

Buy to Open 1 TSLA 1/15/21 $1790.00 C $340.00 (Delta .59) 

I’m writing very fast so I can get back to work. Please excuse any typing mistakes.

Successful trading,

Steve

The Options Coach