Month: September 2016

As of my last post I had Calls sold on all my stock holdings in preparation for today’s Fed announcement on interest rates. Even with and same amount of option contracts sold on all my shares, as share I own, I was still not comfortable with my 10,000 shares of U.S. Steel (X). With the […]

Today at 2pm the Fed will announce if they will raise interest rates now or wait until December’s meeting. I believe an increase is coming but I don’t think it will be today. You must remember it can be today and a trader must think how they want to play the market with big new […]

Today I bought 5000 shares of GPRO. I really didn’t want to because the Fed is making an announcement tomorrow to whether they will raise rates or not. I already have 5000 shares that are covering a 50 contract Call plus I have a Naked 50 LEAP expiring in January. Earlier last week GPRO received […]

About a half hour ago I sold a 50 contract GPRO 9/23/16 $17 Call. I brought in a premium of $2000. With GPRO very volatile today I put in a order to “Buy to Close” that position. That was just executed! I am out of that Short Call. I sold for a premium of $2000 […]

Gopro (GPRO) received a bunch of upgrades at the end of last week. I have my “Triple Play Hedge” still working but I’m on my last leg of the 3 Calls sold. This last leg expires this coming Friday. This is a $16 Call. With the upgrades, GPRO is running strong today and the volume […]

Good morning “Main Street beats Wall Street” readers. I’m off to a quick start this week. Did you read that I bought my way out of my U.S. Steel (X) LEAP Calls? If you didn’t, check your email from Friday. I’m very happy I exited that long sequence of trades because X is up this […]

I had another fantastic week! All trades that came to a conclusion this week involved U.S. Steel (X), Gopro (GPRO) and Yelp (YELP). If you are a regular reader of Main Street beats Wall Street you know I’ve been dealing with these 3 stocks for a while now. There are hundreds of stocks but I […]

This was a closing bell I was watching closely. I was watching all my position for a good reason. Of cause the big reason is today was an Expiration Day. I was watching Yelp because I had a $38 Call expiring and the stock closed at $37.95 so I keep the premium, plus I keep […]

I am asked all the time, “why do you do this?”, with the inflection I might have an “ulterior motive” in their voice. Well I do it because I love to coach and I want to help prevent others from taking the hits I took in the market. Hopefully you can learn from my mistakes. My motive […]

I just completed a Buy-Write on YELP. I really don’t want to own any more stock but the market is moving well. I don’t want to get greedy but I also don’t like to miss a great opportunity. With this trade I purchased 1000 shares at $37.80 and I sold 10 contracts of the 9/16/16 […]