I have only been reporting Grasshopper Trades lately. I’m reporting a Peloton Trade (PTON) because I don’t have much to report and I just wanted to let you know I’m alive and well.
I just sold 15 contracts of the PTON 7/23/21 $121 Call for a premium of $1.50 for $2250.
Sell to Open 15 PTON 7/23/21 $121.00 C @ $1.50 (+$2250)
Believe it or not I’m having a great day on one of the worst days of the year. The question is why? Well, the reason is some of my stocks are up. For starters, I own 1500 shares of Peloton and the stock is up $6.50 as I write.
Another big one is Nvidia (NVDA). I’m in the stock because of the split at the end of today. I own options as my split strategy. As I write the stock is up $32.
As I write the DOW is down 783, the NASDAQ is down 185 and the S&P down 76. This is a very bad day so with my account up I feel very blessed.
CNBC is reporting the market is down because of COVID concerns. I’m not a believer in this report! I believe the market is down because of the policies and spending of this administration. I think the “Big Boys,” with big profits in the books, are starting to bail out. I think the fund managers are worried where this economy might go. I do not think inflation is “transitory.” I think it’s here to stay. I believe this will be a problem for the market. Only time will tell! You might see me selling more Naked Call Options. This will curtail my Grasshopper Trades. If I make less Grasshopper Trades I report my Master Trades to keep you in the loop of what I’m doing.
Successful trading,
Steve
The Options Coach