This week I only have 1 trade to report. But today I’m also reporting last weeks results, week ending 6/7/19. Plus, I sold a Call on 300 shares of RH I own.
I’m sorry for the tardiness, the beginning of the summer has been very busy. In addition to getting work done around the house, I also rented a house in the Catskills. There’s a small town about 100 miles north of NYC called Saugerties. My family has a lot of history here. Right now I’m sitting in the woods listening to the waterfalls. The area is loaded with creeks, waterfalls and swimming holes. I plan on spending a lot of time here this summer. Don’t worry, the house is in the woods but it has wifi so I’ll be doing my trading. Hopefully I’ll be able to report my trades in a more timely manner.
If you’ve been reading my post you saw I sold a 10 contract LEAP on Advanced Micro Devices (AMD). This is a long term, Covered Call position and it won’t expire until 1/17/20. You can read about it here. To add to my AMD position, last week I sold a 10 contract Naked Call. This was a 6/14/19 $33.50 Call. I sold this when the stock was around $32. I received a 50¢ premium for $500. It got a little nerve wracking because the stock jumped up over $34.50. I didn’t cover the Call because I felt the stock was gonna reverse because of what I saw in the candlestick charts. Luckily I was right! the stock reversed and dropped down a bit. The Call expired and I never had to buy the stock. However, if the stock did stay above the $33.50 Strike I have 1000 shares which are involved in my LEAP. Most readers know that Naked Calls is my favorite strategy. I haven’t been doing many because of the way the market’s been moving. I’ve been doing mostly Covered Calls.
6/7/19 – Sell to Open 10 AMD 6/14/19 $33.50 C @ .50¢ (+$500)
6/14/19 – Expired 10 AMD 6/14/19 $33.50 C
Profit +$500
This was the only trade I made this week.
Total Weekly Gain +$500
Last week for my “Results Week Ending 6/7/19” I also had 1 trade. I sold a long time position with Square (SQ). It was only 100 shares but it was a nice gain. Back on 9/7/17 I bought 100 shares of SQ at $26.30. I’m trying to free up some trading funds so I dumped the 100 shares. I sold the shares for $65.15. I was holding the shares a while but I had a nice gain. My profit was $3885 on an investment of $2630. I just hope I didn’t sell way to prematurely. On Friday the stock closed at $71.59 lol. I can’t worry about it, I put the money to work with AMD, which did well.
9/7/17 – Buy 100 Shares SQ @ $26.30
6/5/19 – Sell 100 Shares SQ @ $65.15
Profit +$3885
Total Weekly Gain +$3885
Week ending 6/7/19
Yesterday, Friday, June 14th I sold a 3 contract Covered Call with RH. I bought 300 shares of RH on 5/6/19 at $105. It pulled back a bit into the 90’s and I’ve been waiting for it to come back. Well, this week they reported earnings and the stock popped $18. With the stock at $110.50 I sold a $113 6/21/19 Call for a premium of $2 for $600. Let’s watch an see if I get assigned or the Call expires with the stock under my Strike Price and I keep my stock.
Sell to Open 3 RH 6/21/19 $113.00 C @ $2.00 (+$600)
This trade is a Covered Call on a stock that just reported great earning so I give it a Risk Factor 1.
OK I think I’m all caught up with my positions. Just to be sure take a look at my page “Active Trades/Current Positions” and see everything I have active.
Again, I’m sorry for my tardiness. Enjoy the weekend!
Steve
The Options Coach