I’m Sorry for the delay with my week ending report. I had a very busy weekend! Besides spending a beautiful, full day Sunday with the family, I spent some of the weekend getting this badass machine ready for Daytona Bike Week. I will be leaving tomorrow morning and I’ll be back home at my desk text Tuesday morning. I will have my lap top with me, along with other mobile devices. I will be watching the market as much as I can and making post if I make a trade. Maybe I’ll include a few pictures of the bike rally. We all need a little down time once in a while lol.
I did make a few trades last week. I’m trying to get back to normal trading. Facebook is getting close to my purchase price but Netflix has a little ways to go. As they are working their way back up I’m selling some Call to bring in some cash. Last Monday I sold a Call on NFLX. I sold 10 contracts and brought is a $1 premium for a total of $1000. On Tuesday the stock had a little pullback and I bought my way out of that option for $.40. This cost me $400 and I had a profit of $600. Money in the mattress, move on to the next deal!
On Friday the 26th I sold 15 contracts of FB and brought in a $1 premium on that option also. This total premium was $1500. A few hours later FB was down and I also bought my way out of this option. I paid $.45 to get out for a total of $675. I had a profit of $825. I love buying my way out of options with a profit to end a deal.
Total weekly profit +$1425
Money in the mattress
On Friday I did sell another Call on NFLX. I sold 10 contracts of the 3/4/16 $101 Call and got a premium of $1 for a total of $1000. We’ll see how this plays out! Today I’m looking to sell another Call on FB. Since I’m going away I might go with an Expiration Date of next Friday. I’ll let you know what I do as soon as I make a move.
Steve
The Option Coach