This report brings an end to August. And 2018 is moving along quickly. I hope everyone had a great Labor Day weekend. Here in NYC it was a beautiful weekend. A little warm but very nice weather.
Everyone probably saw the new ad being run by Nike involving Colin Kaepernick. Nothing surprises me anymore! I look at this as a calculated risk financial move. Nike is looking for a long term “good” result. Maybe looking for better relationships with athlete for long term endorsements. I wouldn’t be surprised if there was some price manipulation involved as part of the companies stock buy back plan. Might be a stretch but who knows! I’m thinking about shorting a few shares because I think half the country will be boycotting for a little while. Just in time to help ruin another football season lol. You might want to watch what Under Armour (AU) does with the next few earnings.
As I talk about this past week you well see I jumped out of AMD. I had 1000 shares and I feel it’s in an “over bought” situation. Well, if you look at the stock this morning it looks like that sale might have been a mistake, it’s up $1.25. Oh well! The RSI is still very high and I don’t think I’ll be long the stock until it backs off a bit. There’s plenty of other stocks I can look at.
All my trades for the week are listed below. It was a very good week! The best since the week ending 7/20/18. I brought in a total of $2500; all small trades! I’m really trying to be very careful. I had a very good 1st half and I’m trying to keep my gains while bringing in smaller amounts with less trades with less risk.
It looks like I was very busy week but there really isn’t much. I did a Covered Call with AMD but I sold the stock before the Call expired so there was 1 extra trade. Rh was a Covered Call where I was assigned. And Micron was a Covered Call where I wasn’t assigned.
Advanced Micro Devices
8/27/18 – Sell to Open 10 AMD 8/31/18 $26.00 C @ 60¢ (+$600)
8/29/18 – Buy to Close 10 AMD 8/31/18 $26 C @ 10¢ (-$100)
Profit +$500
8/27/18 – Buy 1000 Shares AMD @ $24.90
8/31/18 Sell 1000 Shares AMD @ $25.15
Profit +$250
8/29/18 – Sell to Open 10 AMD 8/31/18 $25.50 C @ 40¢ (+$400)
8/31/18 – Expired 10 AMD 8/31/18 $25.50 C
Profit +$400
RH
8/27/18 – Buy 200 Shares RH @ $155.25
8/31/18 – Assigned 200 Shares RH @ 157.50
Profit +$450
8/28/18 – Sell to Open 2 RH 8/31/18 $157.50 C @ $3.00 (+$600)
8/31/18 – Expired 2 RH 8/31/18 $157.50 C
Micron
Profit +$600
8/27/18 – Sell to Open 5 MU 8/31/18 $53.00 C @ 60¢ (+$300)
8/31/18 – Expired 5 MU 8/31/18 $53.00 C
Profit +$300
Total Weekly Gain +$2500
I’ll be watching AMD very closely. If it goes up much more I might do a Naked Call.
Steve
The Options Coach