My basketball season is in full swing and my free time is cut to almost nothing. In the gym 7 days a week! Because of this I didn’t get my” Results Week Ending 11/11/17” posted. You can look at my trades and results on my page “Trade History 2017.” Scroll all the way down to the bottom. I had a nice week with only 3 three trades. If you want to look at the trades and what I wrote, you can go to the “Blog” section in the top menu bar. My total weekly gain was +$4450. Can’t complain about that!
I noticed I forgot to post a trade last week. On 11/7/17 I bought another 1000 shares of RH at $85.95. I now have 2000 shares. 1000 at $81 and 1000 at $85.95. I was just executed on a 20 contract Call with RH. I sold 20 contracts of the 11/17/17 $90 Calls for the whopping premium of $3.20. This Call brought me in a total premium of $6400. This, very possibly, could be my only trade of the week.
Sell to Open 20 RH 11/17/17 $90.00 @ $3.20 (+$6400)
As I write the stock is at $87 and it was at $87 when I was executed. If I get assigned I’ll make another $4000 on the stock from here. You know I’m in the stock at $81 and $85.95. I would make a lot more on the stock than the $4000 I just mentioned. The $4000 would be from the point where I sold the Call. This could turn out to be a great trade. This trade is a Covered Call on previously owned stock so it gets a Risk Factor 1.
Steve
The Options Coach
Two things about RH:
Earning announce only a few weeks away; Dec 6
and an article headline that says AMZN will overpay to acquire RH…..
The story about Amazon and RH came out in June when analyst Anthony Chukumba said RH should be a good target. Earnings come out Dec 7th, after the close. I’ll be doing something, possibly a straddle.
Did you notice RH just went through the roof on increased guidance from the company ?
At 3:34 I sold a 17th naked put; $85 and received a $5.50 premium.
I felt most of the down side was rung out today, didn’t know guidance was coming.
Looks like I am not going to be assigned this stock…. 🙁
Got to be lucky sometime….
Did I notice?! I’ll have a bit of an Opportunity Lost but I’ll do very well. Yesterday the stock closed at $83. I have 2000 shares. I have 20 contracts of the $90 Calls sold. So, today I’ll profit from $83 to $90 which is $14,000 plus I brought is a $6400 premium. A nice $20,000 day!
Congratulations !
Take the rest of the day off.
HaHaHa