Results Week Ending 1/17/20

I hope everyone enjoyed the NFL championship games. There’s one more game left and that’s in 2 weeks, the Super Bowl.

I have a bunch of trades to report which led to a fantastic week. However, I did have a trade that I took a loss on. I partially sold my long option position with Dish. Let’s take a look at what I did and take a look at the rest of my trades I exited this week.

DISH

Back on 9/16/19 I bought 10 Calls on DISH. The position didn’t move the way I predicted and I’ll probably take a loss on the entire position, so this week I sold 2 of the 10 contracts. I only sold 2 of the contracts because there’s still 6 months until expiration and I’m hoping the stock will still make a move. If not I’m starting to cut my loses slowly. Let’s see what happens with the remaining 8 contracts. With these 2 I took a $380 loss.

9/16/19 – Buy to Open 2 DISH 6/19/20 $35.00 C @ $6.30

1/13/20 – Sell to Close 2 DISH 6/19/20 $35.00 C @ $4.40

 Loss -$380

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PAGS

On 11/11/19 I bought 20 contracts of PAGS. There is still a year left until expiration but I decided to take the profit I had and move on. Below is the orders getting in and out of the trade. I held the position for 2 months and left with a 13% return. I’m happy!

11/11/19 – Buy to Open 20 PAGS 1/15/21 $35.00 C @ $7.26 ($14,520)

1/14/20 – Sell to Close 20 PAGS 1/15/21 $35.00 C @ $8.20 ($16,400)

Profit +$1880

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Weight Watchers

Weight Watchers has been on a tear lately. With the stock up multiple dollars in a short time the candlestick chart indicated to me there would be a pull back. I was so sure I sold 10 Naked Calls, even in this hot market. My prediction was correct and the stock closed well below my Strike Price. I didn’t have to invest a dime and walked away with a $650 profit.

1/13/20 – Sell to Open 10 WW 1/17/20 $47.00 C @ 65¢ (+$650)

1/17/20 – Expired 10 WW 1/17/20 $47.00 C

Profit +$650

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Micron

I bought 1000 shares go MU at $57.50 and sold a 10 contract Covered Call with a Strike Price of $58. The stock closed below my Strike. I keep the stock and keep my $600 premium. On Friday, near the close, I wanted to get next week started so when I felt I was safe from assignment I sold another Call for this week.

1/14/20 – Sell to Open 10 MU 1/17/20 $58.00 C @ 60¢ (+$600)

1/17/20 – Expired 10 MU 1/17/20 $58.00 C

 Profit +$600

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Apple

Apple is moving absolutely crazy. I had extra money in my margin account and I was looking for a very safe trade. I decided to buy 200 shares of apple at $313.65 and sold 2 contracts of the $317.50 Calls for a premium of $500. The premium isn’t the normal 1% I look for but I sacrificed a little premium for a very safe trade. I was assigned as I figured I would be. I made $770 on the stock sale and the $500 premium. Great trade!

1/13/20 – Buy 200 Shares AAPL @$313.65

1/17/20 – Assigned 200 Shares AAPL @ $317.50

Profit +$770

1/13/20 – Sell to Open 2 AAPL 1/17/20 $317.50 C @ $2.50 (+$500)

1/17/20 – Expired 2 AAPL 1/17/20 $317.50 C

 Profit +$500

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Canopy

With this stock I was attracted to the very nice premium. And with Canopy on the move I went with a Covered Call. I bought 1000 shares at $23.75 and sold 10 $24 Calls. I only went up 25¢ on the strike Price from the buy price because I really wanted to get assigned. Which I did! Made $250 on the assignment and $600 on the premium.

1/14/20 – Buy 1000 Shares CGC @ $23.75

1/17/20 – Assigned 1000 Shares CGC @ $24.00

 Profit +$250

1/14/20 – Sell to Open 10 CGC 1/17/20 $24.00 C @ 60¢ (+$600)

1/17/20 – Expired 10 CGC 1/17/20 $24.00 C

 Profit +600

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Total Weekly Gain +$4870

I cannot complain about this week and no one would listen if I did. I’m off to a great new year. You don’t have to love Trump, I think he’s a bit of a buffoon when he opens his mouth but I love his policies and believe he loves this country. We all want different things from our politicians, what I want is a strong country with a strong economy, and I want the opportunity to take care of my family. I’m really sick of all the political BS, but if the market keeps moving like this, I’m happy! If you are on the sidelines, get your studying in and get to work. I believe you can always make money in the market, but if you can predict direction correctly you can make a lot more. And my prediction is this market is moving up!

I hope you had a great weekend.

I would like to welcome the new subscribers. If you have any questions I’m here for you. Send me an email and we’ll get you started.

If you don’t have the time to be a trader at least try to invest. Keep an eye on my Wealth Builder section. Take a look at my Wealth Builder Portfolios. You don’t have to be a full time trader to have a portfolio

Successful trading,

Steve

The Options Coach