What a crazy last 2 weeks! I have not been writing much for a number of reasons. I’m gonna try to catch up a little with this email.
First I’m gonna give you the last 2 Weekly Results. This is weeks ending 2/21/and 2/28. Let me be very clear. I brought in some nice money with my trades but my account is much lower because of the market collapse. There has been record breaking drops the last 2 weeks. I must say I’m not that worried about my account because I have plenty of margin available, and I have positions I like for long term. It’s just gonna take some time to recover. And this will not happen until we see some good news with the coronavirus. One thing I am worried about is bringing in my normal weekly gains. A lot of my positions are lower than where I bought, so selling Calls will be tough.
Because of a lack of time, and a lot to report, the weekly results below will come with explanation. If interested, you can go back and read the post when I made the trade.
Week Ending 2/21/20
Canopy
2/14/20 – Sell to Open 5 CGC 2/21/20 $25.00 C @ 60¢ (+$300)
2/21/20 – Expired 5 CGC 2/21/20 $25.00 C
Profit +$300
Nvidia
2/18/20 – Sell to Open 3 NVDA 2/21/20 $295.00 C @ $3.50 (+$1050)
2/21/20 – Expired 3 NVDA 2/21/20 $295.00 C
Profit +$1050
Weight Watchers – Covered Call W/assignment
2/10/20 – Buy 1000 Shares WW @ $36.75
2/21/20 – Assigned 1000 WW @ $37.00
Profit +$250
2/18/20 – Sell to Open 10 WW 2/21/20 $37.00 C @75¢ (+$750)
2/21/20 – Expired 10 WW 2/21/20 $37.00 C
Profit +$750
Total Weekly Gain +$2350
Week Ending 2/28/20
Gilead Sciences – Covered Call W/assignment
2/10/20 – Buy 400 Shares GILD @ $68.90
2/28/20 – Assigned 400 Shares GILD @ $69.00
Profit +$40
2/21/20 – Sell to Open 4 GILD 2/28/20 $69.00 C @ $1.00 (+$400)
2/28/20 – Expired 4 GILD 2/28/20 $60.00 C
Profit +$400
Weight Watchers
2/25/20 – Sell to Open 10 WW 2/28/20 $39.50 C @ $1.00 (+$1000)
2/28/20 – Expired 10 2/28/20 $39.50 C
Profit +$1000
Weight Watchers
2/27/20 – Sell to Open 10 WW 2/28/20 $32.50 C @ 50¢ (+$500)
2/28/20 – Expired 10 WW 2/28/20 $32.50 C
Profit +$500
Total Weekly Gain +$1940
Now that you have the last 2 weekly results let’s take a look at a trade I made today.
I’m still holding 300 shares of Nvidia (NVDA). It’s down from where I bought but I was able to get a Call sold today. With the stock down at $273.25 I sold 3 contracts of the 3/6/20 $295 Calls. I don’t think I’ll get assigned but the way NVDA moves you never know. If I do, no problem! Even with the stock $20 below where I bought I was still able to get a $2 premium. This trade get’s a Risk Factor 1.
3/2/20 – Sepp to Open 3 NVDA 3/6/20 $295.00 C @ $2.00 (+$600)
My account is down from 10 days ago but I’m not feeling too bad. I’ve been making a lot of trades, some being short term, some even day trades. I have not been reporting these trades for a reason. One reason is there has just been too many, I’d be writing all day. But the main reason is because Main Street beats Wall Street is a learning site. I get emails that some of you are mimicking my trades. The trades I’ve been making are not for Grasshoppers. They are for more seasoned traders. I’ve been buying Puts and Calls as the market was moving quickly. I have been bringing in some nice money with my Puts. When all this volatility slows down I’ll try to send out an email explaining all the trades. Please take this time to learn. If you are a Grasshopper I’d hold off on any trading. Continue learning and wait for the market to calm down.
Any questions send me an email.
Successful Trading,
Steve
The Options Coach