Results Week Ending 11/13/20
With my account growing to the size it did this year I’m developing a weekly goal for myself. Without really thinking about it, it looks like my goal is settling in at $10K a week. If you look at my “Trade History 2020” you will see I’ve been doing it for many weeks now, since week ending Aug 21st. The only week I didn’t make it in that time frame is week ending Sept 11th. For that week I do have a good excuse. That week I only had 1 trade come to an end. It was the week after having the biggest week of my life, plus it was the week of Sept 11th. If you remember I ran a huge Sept 11th event that week and I wasn’t near my computer all week. The 1 trade that did expire was placed the week before. I actually didn’t make a trade that week and still locked in $2200.
This week I only made 4 trades and locked in $10,650. I had a great year and I’m trying to curtail my trades to coast into the year’s end. However, this is a business so I must bring in something. So, from hear forward my challenge for myself is to cut down the amount of trades and still bring in $10K each week. Let’s watch and see how this works out for me.
On a unhappy note, it looks like COVID-19 is finally taking it’s toll on Fiore’s Pizza. I opened this business about 17 years ago with the name Pizza Booth. 15 years ago I decided to change the recipe and the name to Fiore’s. Fiore’s Pizza is named after one of my lifetime best friends, Mike Fiore. Mike was a NYC firefighter who died as a result of the terror attacts on Sept 11, 2001. I love having Mike’s name up in lights on Bleecker Street in Greenwich Village, NYC where people can come in and learn who Mike was. It was my little way to keep Mike’s name alive.
NYC is in bad shape because of COVID-19. About a quarter of the people left to live in the suburbs. With no NYC attractions open, whether it be theaters, sports arenas, museums, even big named restaurants closing, there is no tourism activity. NYC relies on tourism. The main section of NYU is 1 block away from Fiore’s and most students are learning on-line.
The result of COVID-19 in NYC, and other cities, is many businesses are closing. It’s just impossible to stay open, and Fiore’s has fallen victim.
I consider myself very lucky! Many people are losing their businesses and have no other income. Since Fiore’s is the last of my businesses I’m very happy I have my trading. Barring no stock market move that cleans me out, I’ll be fine. My sadness comes from the thought of dismantling a place that was used to keep Mike Fiore’s name alive. Well, it did it’s job for 15 years; who knows what the future will bring? When my love for someone is so strong you never know what I’ll do!
I would like to welcome Mike’s wife as a new reader. Welcome Charlene! I love you!
Let’s take a look at this week’s trades.
Nvidia
This was a simple Covered Call. The Strike Price was picked for assignment and a larger premium. Mission accomplished!
Assigned Covered Call
11/11/20 – Buy 500 Shares NVDA @ $527.00
11/13/20 – Assigned 500 Shares NVDA @ $530.00
Profit +$1500
11/11/20 – Sell to Open 5 NVDA 11/13/20 $530.00 C @ $9.00 (+$4500)
11/13/20 – Expired 5 NVDA 11/13/20 $530.00 C
Profit +$4500
Zoom
I own 400 shares of Zoom (ZM) but this trade was a Covered Call on an additional 100 shares I bought this week. I was not assigned.
11/11/20 – Sell to Open 1 ZM 11/13/20 $410.00 C @ $11.00 (+$1100)
11/13/20 – Expired 1 ZM 11/13/20 $410.00 C
Profit +$1100
Uber
Looking at Uber’s Relative Strength Index (RSI) this week I felt the stock was going down. With this in mind I sold 10 Naked Calls. The stock did go down and my Call expired. I keep the premium!
11/9/20 – Sell to Open 10 UBER 11/13/20 $51.00 C @ 55¢ (+$550)
11/13/20 – Expired 10 UBER 11/13/20 $51.00 C
Profit +$550
Nvidia
With Nvidia way down I didn’t think it would go down any further. With the stock at $530 I sold 10 $520 Puts for a $3000 premium. I love Nvidia so I really didn’t mind getting assigned and having the stock put to me at $520. The stock closed above my $520 Strike Price so the Put expired. I keep the $3000.
11/9/20 – Sell to Open 10 NVDA 11/13/20 $520.00 P @ $3.00 (+$3000)
11/13/20 – Expired 10 NVDA 11/13/20 $520.00 P
Profit +$3000
Total Weekly Gain $10,650
Not a bad week for only making 4 trades.
Have a great weekend!
Successful trading,
Steve
The Options Coach