Month: May 2016

Hi “Main Street beats Wall Street” readers. I hope everyone had a great 3 day weekend remembering those who sacrificed for us. Today is Tuesday, May 31st. I cut a little hole into my mattress, grabbed a stack and I’m going to Italy. All work and no play is no fun! I work hard at […]

I would like to start this post with wishing everyone a Happy Memorial Day! There are many holidays here in America, however they are not all celebrated by every single American. Memorial Day is one that absolutely should be celebrated by every person who lives on American soil. We all know that this is not […]

I sold two Naked Calls on Yelp (YELP) expiring today. Both 10 contracts Calls. One I got into on 5/19 and the other on 5/23. Since today was expiration day, I had to make a move on both because they were both In-the-Money. Let’s take a look at one at a time to see the […]

It’s 10:00am Friday and I’m watching the S&P level. As I write it’s at 2094. It seem to have resistance at the 2095 – 2100 level. It’s having trouble getting over 2095 today. If it blow thru 2095 and goes above 2100 by the close, I think this market can go higher. If we close […]

Earlier I posted that I owned 2000 shares of Facebook (FB) and I sold 10 contracts of Call options on 1000 shares. Also in that post I mentioned that I entered an order to sell 10 more contracts but as of the last post that order was not executed yet. Well, the second set of […]

I own 2000 shares of Facebook (FB). 1000 I bought on 4/5/16 @ $113. The other 1000 I bought on 5/11/16 @ $119.90. On the first 1000 shares I just sold a Covered Call. I’ve been selling Call since I bought the shares and have been bringing in some nice premiums. FB has been lying […]

The more I look at the YELP candlestick chart the more I feel YELP is going down. Take a look at the post “YELP Naked Call.” I sold these 10 contracts today for the same reason. I feel YELP is in a “Raising Wedge” pattern which normally means a reversal. Yelp has been going up! […]

This morning I sold 20 contracts of Calls on previously owned shares of GoPro (GPRO). I’ve owned 2000 shares since the first week of the year and have been selling Calls ever since. This time, with the stock at $9.45 I sold the $11 Calls to expire on June 17th. GPRO has only been moving […]

I normally title the week ending post with the word “Results Week Ending…..” but this week I titled my post “Report Week Ending…..” The reason for this is I have no results for the week ending 5/20/16. I entered 2 trades this week but I did not exit any to give a result. As you […]

While I was looking at some candlestick charts I noticed the Yelp (YELP) chart had a pattern I look for when looking to sell Naked Calls. I noticed it was in a pattern called a “Raising Wedge.” Please take a look a my post called Where is U.S. Steel Going. This post explains a Raising […]