I returned home from my vacation on Tuesday, and Wednesday morning was my 1st day back in my office. I’ve been so busy catching up with my work this is the first moment I’ve had to write my report from last week. Why make the money if you’re not gonna enjoy it? I love to travel! I’ll have another trip this summer. I’m kicking around a few possibilities. One is returning to Greece and Italy, which I love, and the other is Alaska. I’ve never been to Alaska, and I have a cousin living there. I would love to go visit him. I’ll let you know.
RH
I made 2 trades with RH that came to an end this week. I was holding 2000 shares of the stock and selling Calls against them every week and it’s been working out nicely. With the stock up a bit I sold the shares. This sale gave me a profit of $640. Please go to my post from May 22nd and read about this trade. “2 Trades with RH”
Buy 2000 Shares RH @ $58.38
Sell 2000 Shares RH @ $58.70
Profit +$640
While you’re reading that post you will read about another trade. I included the 2 trades in the 1 post. The second trade, after I sold the 2000 shares was a Naked Call on RH. The stock was up and I put a Strike price of $60. The stock never hit the Strike Price so this Call expired. This Call had a premium of 70¢ for a total of $1400. This money is in my mattress!
Sell to Open 20 RH 5/26/17 $60 C @ 70¢ (+$1400)
Expired 20 RH 5/26/17 C
Profit $1400
Micron
I had 2000 shares from last week from a Covered Call where I wasn’t assigned. I bought the shares at $28.80. I still had the shares so I sold another 20 contract Call. This was a 5/26/17 $29 Call that brought in a premium of 20¢ for $400. The stock closed above my Strike Price so I was assigned. With the assignment I made $400 on the stock sale and I keep the $400 premium.
Buy 2000 Shares MU @ $28.80
Assigned 2000 Shares MU @ $29
Profit +$400
Sell to Open 20 MU 5/26/17 $29 C @ 20¢ (+$400)
Expired 20 MU 5/26/17 $29 C
Profit +$400
It turned out to be a pretty good week. Not bad while I’m traveling.
Total Weekly Gain +$2840
Sorry for the delay in my post. If you have any questions send me an email.
I would like to welcome a few new readers. If you are a Grasshopper, no question is silly! You must learn before you play this game with real money. It’s very dangerous and difficult to be successful. I don’t want to be like the other bloggers and make this game seem easy. If you do your homework and stay very discipline you can make money, but you must be very careful. Slow and steady, steady and slow. The tortoise wins the race.
Steve
The Options Coach