I’m sitting in the office of Fiore’s Pizza, my pizza joint on Bleecker St, NYC. I’m extremely worried about business here in the city. The bars and restaurants are empty. I have a Chinese restaurant next door to me. I saw about 10 people in there in the last few days. His rent is $30,000 a month. New York is dead! Madison Square Garden, Broadway, movie theaters, all stadiums, any event hall that holds a lot of people, all closed. This is crazy!
Now that I lost my income from Fiore’s Pizza let’s take a look at my trading. I’m making trades and bringing in some nice premiums. In fact, this was the biggest week of the year. However, let me be perfectly clear. My account is way down to the tune of 30% is a few weeks. I cannot list all my trades because there are too many. This is a learning site. I list my trades to show you that I’m practicing what I preach. To show you first hand that my way of trading works. We are in a very different time right now. I do not have the time to list all my trades, and the trades I’m making will not help you learn. I’m making a lot of day trades. Something I don’t want to teach. I’m using my years of experience to keep me in the game until things get normal.
At this point I have my account pretty much balanced with Long & Short positions. My Long positions are LEAPS that don’t expire until 2022. As the market makes big swings my account does not move much. As that’s happening I’m bringing in premiums from selling Calls. At this point most Calls are Naked.
Take a look at my trades of this week. The premiums are very high. In my opinion, it’s time to sell Calls, not buy. Which is my normal strategy.
My account took a big hit in the beginning but I think it will stay where it is now. Hopefully it will start back up as I bring in premiums. Check out my trades below. It was a great week of premiums.
Occidental Petroleum
3/10/20 – Sell to Open 10 OXY 3/13/20 $15.00 C @ 70¢ (+$700)
3/13/20 – Expired 10 OXY 3/13/20 $15.00 C
Profit +$700
United Airlines
3/10/20 – Sell to Open 10 UAL 3/13/20 $48.50 C @ $4.00 (+$4000)
3/13/20 – Expired 10 UAL 3/13/20 $48.50 C
Profit +$4000
Nvidia
3/10/20 – Sell to Open 1 NVDA 3/13/20 $260.00 C @ $7.00 ($700)
3/10/20 – Expired 1 NVDA 3/13/20 $260.00 C
Profit +$700
Apple
3/10/20 – Sell to Open 1 AAPL 3/13/20 $290.00 C @ $3.00 ($300)
3/13/20 – Expired 1 AAPL 3/13/20 $290.00 C
Profit +$300
Netflix
3/10/20 – Sell to Open 1 NFLX 3/13/20 $370.00 C @ $5.05 ($505)
3/13/20 – Expired 1 NFLX 3/13/20 $370.00 C
Profit +$505
United Airlines
3/12/20 – Sell to Open 10 UAL 3/13/20 $45.00 C @ $1.00 (+$1000)
3/13/20 – Expired 10 UAL 3/13/20 $45.00 C
Profit +$1000
Total Weekly Profit +$7205
I’m going to remove my page of active positions. I’ve been in and out of so many position I can’t keep up with the updates. When this is all done and we’re back to normal I’ll try to update you to try an make sense of everything.
I will continue to post when I can and try to teach little. Other than that if you’re a Grasshopper do not trade. Continue studying, save your money and get ready to buy stock at very low prices. I don’t think now is the time.
If you have any questions continue to sent your emails.
Successful Trading,
Steve
The Options Coach