This week ended up being one of the best weeks of the year.
From the open on Monday the DOW is up 279, and the NASDAQ up 30. It’s nice but not unbelievable! However, if you look at my “Trade History 2019” I had one of the best weeks of the year.
I do get worried about the “Trump Train!” How long can it keep going? If you listen to the gurus some same we have a long way to go, and some are domesday theorist. 2 things really worry me. 1 is the Federal budget deficit, which is at $1 trillion, and the other is the National debt, which is $23 trillion. And both are raising! I hope and pray the Trumps tax cuts work out the way they were designed to. I know at the end of the year they’ll get my share because I’m having a crazy good year. Let’s hope it keeps going. I’ll be writing about my year on, or about, December 1st. I do it on December 1st because the result’s of my 1st 11 months might influence my last month of trading, and I’ll talk about that. I’ll also do an end of year report.
This week I had a bunch of trades so I won’t bore you with the details of each on. I’ll write something if I feel it’s important to strategy, or a good learning opportunity.
U.S.Steel (X)
I did a Buy-Write with X which is listed below. When the stock went up a little I felt it was going back down so I sold the stock and temporary went Naked. I grabbed $200. I later bought the stock back.
11/1/19 – Buy 1000 Shares X @ $13.50
11/7/19 – Sold 1000 Shares X @ $13.70
Profit +$200
Planet Fitness (PLNT)
I bought an option and sold it this week for a nice profit. A 36.5% return is a little more than a week.
10/30/19 – Buy to Open 5 PLNT 5/15/20 $65.00 C @ $6.90 ($3450)
11/8/19 – Sell to Close 5 PLNT 5/15/20 $65.00 C @ $9.42 ($4710)
Profit +$1260
Mcdermott International
Bought 20 contracts of the option on the unusual activity. Turns out to be a mistake. I sold 5 of the contracts this week. I lost a little and will likely lose more. I’ll probably have to bail out of all of them soon.
10/30/19 – Buy to Open 5 MDR 1/17/20 $1.50 C @ 65¢ ($325)
11/8/19 – Sell to Close 5 MDR 1/17/19 $1.50 C @ 20¢ ($100)
Loss (-$225)
Micron (MU)
This was a 5 contract Covered Call. I did not get assigned so I keep my stock and keep the premium.
11/4/19 – Sell to Open 5 MU 11/8/19 $50.00 C @ 60¢ (+$300)
11/8/19 – Expired 5 MU 11/8/19 $50.00 C
Profit +$300
Dish Network (DISH)
This was a Covered Call where I was not assigned. This was one of many Covered Calls I sold on these shares. I think DISH is gonna start moving so I’ll make a decision if I want to sell another Call this week or just hold the stock. They came out with nice earnings this week.
11/5/19 – Sell to Open 10 DISH 11/8/19 $36.00 C @ 75¢ (+$750)
11/8/19 – Expired 10 DISH 11/8/19 $36.00 C
Profit +$750
Square (SQ)
Another Covered Call where I wasn’t assigned. Keep the stock and keep the premium! This is another stock I think is gonna start moving as a result of a good earnings report. The 8 Day MA (The T Line) moved above the 50 Day MA. And the RSI is in good position for a buy. It’s right between 35 and 70. I’ll also decided if I want to sell a Call on SQ or just hold. If I sell a Call I might go up on the Strike Price 50¢ or $1.
Check out the premium on this one! There earnings came out this week. It’s dangerous making moves during earnings, but if you do it correctly, It’s a nice pay day!
11/1/19 – Sell to Open 10 SQ 11/8/19 $64.00 C @ $2.15 (+$2150)
11/8/19 – Expired 10 SQ 11/8/19 $64.00 C
Profit +$2150
Marvel Technology (MRVL)
This was a Covered Call where I got assigned. I’ll be back in this stock very soon. And I’ll be writing about it when I get my Wealth Builder page done. I also own Calls on MRVL that go out to 2022.
10/28/19 – Buy 1000 Shares MRVL @ $24.99
11/8/19 – Assigned 1000 Shares MRVL @ $25.00
Profit $10
11/1/19 – Sell to Open 10 MRVL 11/8/19 $25.00 C @ 45¢ (+$450)
11/8/19 – Expired 10 MRVL 11/8/19 $25.00 C
Profit +$450
U.S.Steel (X)
This was a Covered Call where I was assigned. I bought the stock (see above), and sold the stock because I felt the stock was gonna go down, than bought back again and was assigned. Worked out great!
I’ll be writing about X later or tomorrow. Watch for the article.
11/8/19 – Buy 1000 Shares X @ $13.43
11/8/19 – Assigned 1000 Shares X @ $13.50
Profit +$70
11/1/19 – ($13.60) Sell to Open 10 X 11/8/19 $13.50 C @ 45¢ (+$450)
11/8/19 – Expired 10 X 11/8/19 $13.50 C
Profit +$450
This was a Naked Call. It had me worried that it might go above my Strike Price but it closed $36.29 and my Strike was $36.50. If I do anything with AMD this weskit will be a Naked Call. From the Candlestick Chart the stock looks like it ready for a little pull back. and the RSI is well above 70 which is overbought territory. I’ll be watching this one closely on Monday morning.
Advanced Micro Devices (AMD)
11/5/19 – Sell to Open 10 AMD 11/8/19 $36.50 C @ 52¢ (+$520)
11/8/19 – Expired 10 AMD 11/8/19 $36.50 C
Profit +$520
Total Weekly Gain +$5935
I would like to welcome the new readers. This is a typical week ending report. This one is a little longer than most because of the amount of trades that came to an end.
Continue reading this site and other material and you too will be bringing in nice gains soon. All my trades will be posted as I make them and a new post when I get out. I’m completely transparent!
If you have any question about a trade or a strategy send me an email. Or send me a nice short message and I’ll put it in my “Blog Blurbs” lol.
Enjoy the rest of the weekend!
Successful Trading,
Steve
The Options Coach