This week I had 4 completed trades. 1 with Jetblue (JBLU), 1 with Snap (SNAP) and 2 with RH.
Jetblue
On 10/11/17 I bought 1000 shares of JBLU at $20.74. There was a lot of unusual option activity and many people thought the stock was going to move. The stock did not move quick enough for me so after a month and a half I bailed out. This situation might be good for an investor, someone who wants to hold for a while, but I’m a swing trader. I want in and out. With the stock moving down and slowly coming back up to be 1¢ above where I bought in, I decided to put my money to work elsewhere. Did not lose money so I’m happy.
10/11/17 – Buy 1000 Shares JBLU @ $20.74
11/29/17 – Sell 1000 Shares JBLU @ $20.75
Profit +$10
RH
Owning 1000 shares of RH, on Tuesday I sold a 10 contract $102 Call expiring Friday. On Wed the stock took a dip so I did a But to Close. Getting into the trade I brought in an $1100 premium. I bought out for $450 for a $650 profit.
11/28/17 – Sell to Open 10 RH 12/1/17 $102.00 C @ $1.10 (+$1100)
11/29/17 – Buy to Close 10 RH 12/1/17 $102.00 C @ 45¢ (-$450)
Profit +$650
SNAP
A few weeks ago I sold a $14 Put on SNAP. the stock dropped down to $12.50 and I was put the stock at $14. I received a nice premium but I now owned a $12.50 stock at $14. The stock slowly came up toward $14 and this week with the stock in the $13.90 area I sold a Call for a small premium. I sold the $14 Call for a 15¢. On the 1000 shares the total premium was $150. I did this because I want out of SNAP at $14 and I figured I might as well grab a premium while I get out. The stock stayed a little below the $14 Strike Price so I wasn’t assigned. I keep the $150 and I still own the stock.
11/30/17 – Sell to Open 10 SNAP 12/1/17 $14 C @ 15¢ (+$150)
12/1/17 – Expired 10 SNAP 12/1/17 $14 C
Profit +$150
RH
Take another look at the RH trade above. I sold a Call on Tuesday, did a Buy to Close on Wednesday for a $650 profit, and on Thursday the stock bounced back up and I sold another $102 Call. This Call brought in another premium of $1150. The stock at the close on Friday was at $102.16. About 30 second after the close it dropped to 101.97 and I was not assigned. Now Monday morning I still own the 1000 shares. Between the remainder of the after market and the premarket this morning the stock is listed to open at $104.50. At the open who knows where it will go. I hope the stock goes up big and I can just sell because their earnings come out tomorrow and I don’t want to be in the stock. The earning have been great but you never know.
11/30/17 – Sell to Open 10 RH 12/1/17 $102.00 C @ $1.15 (+$1150)
12/1/17 – Expired 10 RH 12/1/17 $102.00 C
Profit +$1150
Let’s watch and see what RH does this morning.
Total Weekly Gain +$1960
Let’s get ready for the open.
Steve
The options Coach