Back in the AAPL & TSLA LEAPS I Sold Yesterday
Yesterday I sold an Apple 5 contract LEAPS I owned. I was in it for 10 days and made a profit of $15,100. I sold it for 2 reasons. One, I always like to lock in profit, and I felt, after a crazy run, Apple would give a little back. Yesterday the stock didn’t go down, but it didn’t go up much either. Today the stock opened down about $6. With the stock down I just bought the 5 contracts again. I want to own LEAPS going into the split but I like grabbing profit along the way. Will I sell these 5 contracts before Friday? Who knows? If there’s an opportunity to grab more profit, I might! Today I bought 5 contracts of the 1/15/21 $500 Call for a premium of $51.
Buy to Open 5 AAPL 1/15/21 $500.00 C @ $51.00
Let’s check out Tesla. Yesterday I bought 1 contract of the 1/15/21 $2000 Call for a $365 premium. About an hour later I sold that Call for $400 making a profit of $3500. Today at the open Tesla was down about $45. I bought the same LEAPS again for the same $365.
Buy to Open 1 TSLA 1/15/21 $2000.00 C @ $365
This was a great in & out of the same position. I locked in $3500! If I never did my in & out of the position I would not have locked in the $3500. It doesn’t always work, but this time it did.
If Tesla moves today and the premium goes back up to $400, I might lock in another $3500 with a day trade. Only time will tell!
Successful Trading,
Steve
The options Coach