Results Week Ending 5/13/22
Hi Readers, I am well aware that Main Street beats Wall Street hasn’t been itself lately, but neither has the market. I’ve been trading for a long time and doing MSbWS for over 7 years writing many posts every week. We have seen a lot of crazy times together and this recent market is up there with the craziest of them.
I haven’t been posting as much for a number of reasons. Most of my posts are of my trades; trying to teach newer traders (Grasshoppers) how to make money through example. The main reason for not posting my trades is I don’t want you making ANY trades, not even my trades. Main Street beats Wall Street is a learning site and this is not the time to learn how to trade. This is the time to paper trade, watch and learn. Everyone in this field is losing money right now. Yes, even Warren Buffett! You cannot own stock and make money now. And to trade options as a beginner you need to own stock for most strategies. I recommend you DO NOT trade! The market might have a few good days but they will be few and far in between. You might even have a good week once in a while but trying to time the market is impossible to win consistently.
You must understand, the volatility is caused by the big money traders taking profit, traders covering Shorts, Margin Calls and Day Trading.
When the market is up a few hundred points, because of the market environment, the big traders like the funds are taking profit. We trade with hundreds of shares, the funds are trading with millions of shares. This causes big swings in the market. If the market moves up some days this causes trades to cover their Shorts. If a stock moves up and you are Short you have to buy the stock to cover your Shorted stock. This causes the stock to move up further, temporarily! If stocks go down this causes Margin Calls. When you have to sell a stock to get out of a Margin Call this causes the stock to move down further. And with Day Trading, which I’m doing a lot of right now, traders are moving in and out of positions causing volatility.
With this administration and the problems in this country: the war in Europe, inflation, the results of COVID, this country and the world is not in a good place to move the markets up. We will have some good days but I do not think we will have many for a while. If the administration and the Fed can control inflation it would be a big help.
In addition to me not wanting Main Street beats Wall Street readers trading, my lack of posts is also caused by a project I’m working on. I am working on a book. My research is so time consuming, quite honestly, the time is not there to post trades I don’t want you to consider making. Hopefully things will be back to normal soon. Main Street beats Wall Street is my priority and has been for a number of years.
I am making trades that I’m not posting for reasons mentioned. I must continue to support my family. However, I’m being very careful. As you can see below I made a lot of trades this week. Please look at my trades to see how I’ve adjusted my trading style. I’m being careful by locking in profit. Many of my Covered Calls I’m exiting with a “Buy to Close” instead of holding until expiration. I want to lock in profit while I can because I know the situation will change minute by minute. Also, see how many trades are Day Trades; getting in and out in the same day to lock in some profit. And some that I entered later in the week I held until expiration when I didn’t think it was worth getting out prematurely.
I made a lot of trades and made a lot of money. I am very happy with this week, especially with the way the market is moving.
If you want to see the trades I’ve made in the last few weeks, which I haven’t posted, you can go to Trade History 2022. Scroll down to the week you want to see and all my trades are posted. I’ve had some pretty good weeks with the down market. That is I’m bringing in some nice money but stock holdings are still going down with the market. The money I’m bringing in is keeping me in the game. Above water.
If I don’t get to post my trade, or I have trades I don’t want you thinking about making, you can look at my trades I’m making during the week at Active Trades. I list them here as I make them. It’s also a way of me keeping track of my trades as I make them.
5/6/22 – Sell to Open 3 NVDA 5/13/22 $190.00 C @ $6.25 (+$1875)
5/9/22 – Buy to Close 3 NVDA 5/13/22 $190.00 C @ $2.20 (-$660)
Profit +$1215
5/9/22 – Sell to Open 1 TSLA 5/13/22 $870.00 C @ $10.25 (+$1025)
5/9/22 – Buy to Close 1 TSLA 5/13/22 $870.00 C @ $8.00 (-$800)
Profit +$225
5/10/22 – Sell to Open 1 TSLA 5/13/22 $725.00 P @ $10.50 (+$1050)
5/10/22 – Buy to Close 1 TSLA 5/13/22 $725.00 P @ $6.00 (-$600)
Profit +$450
5/10/22 – Short 200 Shares NVDA @ $178.00
5/10/22 – Buy 200 Shares NVDA @ $176.00
Profit +$400
5/10/22 – Sell to Open 1 TSLA 5/13/22 $850.00 C @ $10.00 (+$1000)
5/11/22 – Buy to Close 1 TSLA 5/13/22 $850.00 C @ $2.00 (-$200)
Profit +$800
5/11/22 – Short 100 Shares TSLA @ $771.00
5/11/22 – Buy 100 Shares TSLA @ $764.00
Profit +$700
5/11/22 – Sell to Open 1 TSLA 5/13/22 $795.00 C @ $6.25 (+$625)
5/11/22 – Buy to Close 1 TSLA 5/13/22 $795.00 C @ $2.75 (-$275)
Profit +$350
5/12/22 – Sell to Open 1 TSLA 5/13/22 $750.00 C @ $10.00 (+$1000)
5/12/22 – Buy to Close 1 TSLA 5/13/22 $750.00 C @ $7.00 (-$700)
Profit +$300
5/11/22 – Sell to Open 1 TSLA 5/13/22 $720.00 P @ $10.00 (+$1000)
5/13/22 – Buy to Close 1 TSLA 5/13/22 $720.00 P @ $2.00 (-$200)
Profit +$800
5/11/22 – Buy 200 Shares NVDA @ $169.00
5/13/22 – Sell 200 Shares NVDA @ $171.00
Profit +$400
5/13/22 – Short 50 Shares TSLA @ $773.50
5/13/22 – Buy 50 Shares TSLA @ $769.00
Profit +$225
5/10/22 – Sell to Open 3 AAPL 5/13/22 $157.50 C @ $1.50 (+$450)
5/13/22 – Expired 3 AAPL 5/13/22 $157.50 C
Profit +$450
5/10/22 – Sell to Open 4 NVDA 5/13/22 $187.50 C @ $2.00 (+$800)
5/13/22 – Expired 4 NVDA 5/13/22 $187.50 C
Profit +$800
5/13/22 – Sell to Open 4 NVDA 5/13/22 $177.50 C @ 90¢ (+$360)
5/13/22 – Expired 4 NVDA 5/13/22 $177.50 C
Profit +$360
Total Weekly Gain +$7475
If you have any questions on a trade send me an email.
Be very careful! I recommend you do not trade!
Successful trading,
Steve
The Options Coach