On 8/4/17 I bought 1000 shares of Snap (SNAP) at $13.37. I liked it at that price and I wanted to hold a little of the stock because when it comes to social media, you never know where the stock can go. I figured, let me be in the game! The stock did go over $15 and I was watching closely. After listening to a few reports I changed my outlook on where the stock will go. On 9/11/17 with the stock at $15.43 I decided to grab some premium by selling a $16 Call. I did not feel it would hit $16 by the end of the week. Now the stock is back down to $15 and after listening to a few more “gurus” speak on the stock I decided to get out of the stock with a profit. I sold my 1000 shares at $15 with a $1.63 profit per share. That’s $1630. Now that I sold the shares I’m naked on my $16 Call expiring tomorrow. If all stays normal until the close tomorrow I shouldn’t have a problem because I don’t think it will hit $16 by the close. However, you never know! I will be watching!
8/4/17 – Buy 1000 Shares SNAP @ $13.37
9/14/17 – Sell 1000 Shares SNAP @ $15.00
Profit +$1630
This money is already in my mattress!
As I write SNAP is at $14.92.
Steve
The Options Coach