There is no doubt the craziness will continue this week. We need a vaccine or some good news with the coronavirus very soon. Here in NYC I hear a lot of businesses are hurting. I own a pizza place in the heart of Greenwich Village and the foot traffic seems to be way down. My business is always slow from Christmas to St Paddy’s but this year seems extra slow. The rents and minimum wages are very high and businesses owners are starting to worry from the lack of business. Like I said we need a vaccine very soon.
If this is happening to small businesses you know it’s happening to large business also. And this is where the stock market comes in. I think lay-offs will start soon.
My account is down so I’m just trying to make some trades to help my account until we get some good news. Below are a few trades I made that fit into my normal trading pattern. I’m also making trades that don’t fit into my teaching. I hope to make a full report as soon as this virus BS blows over.
Nvidia
3/2/20 – Sell to Open 3 NVDA 3/6/20 $295.00 C @ $2.00 (+$600)
3/6/20 – Expired 3 NVDA 3/6/20 $295.00 C
Profit +$600
Netflix
3/4/20 – Sell to Open 1 NFLX 3/6/20 $385.00 C @ $5.50 (+$550)
3/6/20 – Expired 1 NFLX 3/6/20 $385.00 C
Profit +$550
Apple
3/4/20 – Sell to Open 1 AAPL 3/6/20 $297.50 C @ $4.00 (+$400)
3/6/20 – Expired 1 AAPL 3/6/20 $295.50 C
Profit +$400
Weight Watchers
3/4/20 – Sell to Open 10 WW 3/6/20 $31.00 C @ 50¢ (+$500)
3/6/20 – Expired 10 WW 3/6/20 $31.00 C
Profit +$500
Not a bad week considering the circumstances.
Total Weekly Gain +$2050
Nice gain but my account positions are still down and probably will be for a while. I’ll keep doing what I do to help my account out.
Successful Trading,
Steve
The Options Coach