A few weeks ago RH announced a 3:1 stock split but it hasn’t yet announced the split date. They said it will be sometime in the 2nd quarter. Since the split announcement I have been buying Calls and selling them with nice profits. As of this morning I bought and sold a 1 contract Call twice. Both times making a $1100 profit.
On 4/21/22 I bought my 3rd Call and today, 1 week later I sold that one. With the extremely volatile market being up today I sold this 1 contract Call for a $700 profit. I wanted a $1000 profit but this market is so crazy I decided to jump out with a nice profit.
4/21/22 – Buy to Open 1 RH 6/17/22 $340.00 C @ $33.00
4/28/22 – Sell to Close 1 RH 6/17/22 $340.00 C @ $40.00
Profit +$700
This is a return of 21% for the 1 week position. I will be watching RH closely for another opportunity to get back in.
Today I also sold a 3 contract Call with Apple. With the stock more than usual I sold 3 AAPL 4/29/22 $170 Calls for a premium of $1 for a total of $300.
Sell to Open 3 AAPL 4/29/22 $170.00 C @ $1.00 (+$300)
This is a very scary market and I recommend you be very careful or don’t even trade at all.
Successful trading,
Steve
The Options Coach