A nice week of profits, but I would like to get assigned on my stock holding to free up some cash.
I had 3 options expire on Friday and I still own the stocks because my Strike Price’s were not hit. Most readers know I like to get assigned. If I don’t want to get assigned I’ll either not sell a Call or have Strike Prices further Out-of-the-Money.
I bought 500 shares of Micron (MU) back on 9/6/19 at $49.30. I sold a few Calls but when it pulled back it was a little difficult. This week with the stock at $48.65 I sold a $49.50 Call. I did’t think the stock was gonna go over my Strike Price so I sold a 10 contract Call. 5 were covered and 5 were naked. If the stock looked like it was going to go over my Strike I would have bought another 500 shares. The stock never hit my Strike Price so the Call expired.
10/28/19 – Sell to Open 10 MU 11/1/19 $49.50 C @ 50¢ (+$500)
11/1/19 – Expired 10 MU 11/1/19 $49.50 C
Profit +$500
I’m not happy with the way DISH is moving, and I really want to get assigned and move on. I did sell a few Call since I owned the stock and this week I sold another. I guess as long as the stock doesn’t tank, and I’m pulling in premiums, I’m OK. I bought the stock at $35.80 and this week I sold the $36 Call. I didn’t get assigned but I keep the $550 premium. The stock close at $34.86. I’m hoping for a move this week to get another Call sold. The company reports earnings this Thursday.
10/15/19 – Sell to Open 10 DISH 11/1/19 $36.00 C @ 55¢ (+$550)
11/1/19 – Expired 10 DISH 11/1/19 $36.00 C
Profit +$550
The last trade to report is with Square (SQ). This stock as been a real cash cow. And this week was no different. I bought the stock on 10/1/19 at $62.75. This week I sold another Call and brought in another $1000 premium. Something is gonna happen with Sq this week because they report earnings this Wednesday. This should be interesting!
10/25/19 – Sell to Open 10 SQ 11/1/19 $63.00 C @ $1.00 (+$1000)
11/1/19 – Expired 10 SQ 11/1/19 $63.00 C
Profit +$1000
The Trump Train is still rolling strong. If this market can keep going strong into 2020 the tax man will be very happy.
My account has been growing, now the trick is to keep most of it until the end of the year. I’ll be reporting on my account around Dec 1st.
Another very nice week.
Total Weekly Gain +$2050
Have a great week of successful trading. If there’s anything I can do to help send me an email.
Successful trading,
Steve
The Options Coach