I had an extremely busy weekend. I run a party at my house every year in memory of my brother who passed away. It’s a very festive Oktoberfest. I love getting his friends together to celebrate his life with German beer and great food. I have a lot of people at my house and it’s a lot of work. Now that it’s Sunday evening. After a very successful party the work is done and I just sat to relax and get my report done.
I had another great week with a bunch of trades. I’ll go over each one quickly so I can get to my relaxing and get ready for the morning.
On Monday I bought 500 shares of Micron (MU) and the next day I sold the shares with a $1.70 gain per share.
9/18/17 – Buy 500 Shares RH @ $72.80
9/19/17 – Sell 500 Shares RH @ $74.50
Profit +$850
Also on Monday I sold 10 contracts of the 9/22/17 $72.50 Puts for a premium of $1500. I thought the stock would stay above the $72.50 Strike Price and I would keep the premium and move on. Well, it did stay above the Strike until Friday late afternoon. The stock ended the week at $72.22 and I was assigned. I had 1000 shares put to me at $72.50. Not really a problem. I had to buy the 1000 shares at $72.50 with the stock at $72.22. I’m starting this position down 28¢ for $280. This is not bad because I brought in a $1500 premium on the Put. Also I think RH will go up tomorrow.
9/18/17 – Sell to Open 10 RH 9/22/17 $72.50 P @ $1.50 (+$1500)
9/22/17 – Expired 10 RH 9/22/17 $72.50 P
Profit +$1500
Again , on Monday I sold a 10 contract of Tripadviser (TRIP) 9/22/17 $45.50 Naked Call. The stock never went to the Strike Price and the Call expired.
9/18/17 – Sell to Open 10 TRIP 9/22/17 $45.50 C @ 55¢ (+$550)
9/22/17 – Expired 10 TRIP 9/22/17 $45.50 C
Profit +$550
On Tuesday I bought 1000 shares of MU for $35.80, and on Wednesday I sold a 10 contract 9/22/17 $36 Call. I was really in this position for the premium. As you see, I was in the stock at $35.80 and sold the $36 Call. MU has been moving great lately and I was assigned. I made $200 on the stock and I made the $750 premium.
9/19/17 – Buy 1000 Shares MU @ $35.80
9/22/17 – Assigned 1000 Shares MU @ $36
Profit $200
9/19/17 – Sell to Open 10 MU 9/22/17 $36 @ 42¢ (+$420)
9/22/17 – Expired 10 MU 9/22/17 $36 C
Profit +$420
Along with the Put I sold on RH, I also sold a $74.50 Call. As you can see with my RH Put, the stock closed below my Put Strike Price and was assigned. Since the stock closed below the $72.50 Strike, I was not assigned on the $74.50 Call and the Call expired with me keeping the $750 Premium.
9/21/17 – Sell to Open 10 RH 9/22/17 $74.50 C @ 75¢ (+$750)
9/22/17 – Expired 10 RH 9/22/17 $74.50 C
Profit +$750
That’s it for the week and I’m looking forward to tomorrow’s opening. I now have 2000 shares of RH. I had 1000 and I was assigned for another 1000. I want this stock to go up tomorrow. If it does I’ll make a decision on what I want to do with the shares.
Total Weekly Gain $4270
I hope you had a great weekend!
Steve
The Options Coach