This post is about a Weight Watchers Call but I have a lot to talk about.
Last week I didn’t make any trades because all my stock positions were down from where I bought in and I couldn’t get decent premiums. I decided to lay low and wait for my stocks to come up a little. One of my stocks is Weight Watchers (WTW). I own 1000 shares. Last Thursday WTW came out with great earnings. On Friday the stock went up $8 which was great for my account. At this point WTW is my only stock above where I bought so today I sold a Call. The stock is up to $43.25 and going up higher. I was thinking about selling the stock and grabbing some profit but I decided to sell a Call and grab a premium. I sold the $44 Call to expire this Friday and received a 60¢ premium for $600. I bought the stock at $38.50. If the stock continues up I’m thinking about buying another 1000 shares. This is a Covered Call on previously owned stock so it get a Risk Factor 1.
Sell to Open 10 WTW 8/11/17 $44.00 C @ 60¢ (+$600)
As you might know I’m back into coaching high school basketball. Coaching high school sports takes a lot of time! Not only is it time in the gym, but also computer work, phone work and a lot of prep work. Only a coach and a coach’s wife really knows how much work is takes. Coaching basketball and teaching is a real love of mine so now that my kids are older and my finances are where I feel comfortable I’m happy to be back.
This week I didn’t make trades because of some of my positions, however, you will see a big reduction in the amount of trades I make because of time dedicated to coaching. I happen to be involved in 2 things that take a lot of time, trading & writing on Main Street beats Wall Street, and coaching basketball. I also run Fiore’s Pizza and have a home and a family. I am not abandoning my site or completely getting away from trading but you will notice less post because of less trading. I will still be on my site and answering emails but for now I must put time in with my team. Coaching is a real love of mine and I’m very thankful my life is in position to be able to do what I truly love.
Keep studying, keep the emails coming and be careful!
Steve
The Options Coach