This was another great week! What made this a great week was I had many trades come to an end, I didn’t have to put in much time and all my trades only involved 2 companies, Snap & RH.
Let me start off with Snap.
I bought 1000 shares of Snap on 8/4/17 at $13.37. I really bought the shares to hold. I felt $13.37 was a very good price and I was thinking of holding the shares for a while to see what happens. As time went by I listened to, and read a lot of reports and my out look changed. With the stock up above $15, on 9/11/17 I sold a $16 Call. I felt if I could get $16 per share while getting paid a premium, I’d be happy. On 9/14/17, a day before expiration the stock backed off a little and I decided to sell my 1000 shares at $15, going naked on my Calls. On expiration day the stock never went near $16 and my Call expired. I made $1630 on the sale of the 1000 shares and $230 on the premium. I’ll continue watching Snap to see what it does. I could be completely wrong but I think in the future there will be a takeover bid. Let’s watch and see.
8/4/17 – Buy 1000 Shares SNAP @ $13.37
9/14/17 – Sell 1000 Shares SNAP @ $15.00
Profit +$1630
9/11/17 – Sell to Open 10 SNAP 9/15/17 $16.00 C @ 23¢ (+$230)
9/15/17 – Expired 10 SNAP 9/15/17 $16.00 C
Profit +$230
When it comes to RH, there were so many trades. To explain it would be time consuming and very confusing. Below are all the trades which are also listed on the “Trade History” page. If a trade is followed with “Hit this link” you can go there and read about the trade.
9/7/17 – Sell to Open 3 RH 9/15/17 $70.00 C @ $2.25 (+$675)
9/11/17 – Buy to Close 3 RH 9/15/17 $70.00 C @ @1.00 (-$300)
Profit +$375
On 9/7/17 I sold 5 contracts of RH $70 Calls. On 9/11/17 I entered a “Buy to Close” order for the 5 contracts but was only executed on 3 contracts. The other 2 contracts expired on Expiration Day. See below.
*9/7/17 – Sell to Open 2 RH 9/15/17 $70.00 C @ $2.25 (+$450)
9/15/17 – Expired 2 RH 9/15/17 $70.00 C
Profit +$450
9/7/17 – Buy 300 Shares RH @ $69.75
9/15/17 – Sell 300 Shares RH @ $73.65
Profit +$1170
9/8/17 – Buy 500 Shares RH @ $72.50
9/15/17 – Sell 500 Shares RH @ $73.65
Profit +$575
9/11/17 – Buy 500 Shares RH @ $71.50
9/15/17 – Sell 500 Shares RH @ $73.65
Profit +$1075
9/14/17 – Buy 500 Shares RH @ $71.30
9/15/17 – Sell 500 Shares RH @ $73.65
Profit +$1175
7/24/17 – Buy 500 Shares RH @ $74.60
9/15/17 – Sell 500 Shares RH @ $74.90
Profit +$150
Hit the link below if you want to read about the 5 trades directly above.
These shares were assigned on Friday, expiration day. They were assigned from the Call listed above marked with (*)
9/7/17 – Buy 200 Shares RH @ $69.75
9/15/17 – Assigned 200 Shares RH @ $70.00
Profit +$50
I know this is a lot of trades but it is what I did lol. It was a fantastic week and I cleared up a lot of margin so I’ll be looking to get into something starting tomorrow.
Total Weekly Gain +$6880
I hope you had a great weekend.
Steve
The Options Coach