I don’t want to sound like a broken record, but I hope I can continue saying the same thing, “this was another great week!” This week I had 5 completed trades that brought in a total of $7210. I really had a great year and in the last month I don’t want to give back 1 dollar.
I had a very busy weekend with basketball, business and family, so since it’s late Sunday night I’ll get right to my trades I have to report. First we’ll take a look at RH.
RH
On 11/20/17 I bought 1000 shares of RH at $101. With these shares, the last few weeks, I sold a few Covered Calls. My first Call I did a “Buy to Close” for a nice profit. Last week I held the Call I sold until expiration, didn’t get assigned, and kept another premium. This week with earning coming out and the stock up at $105.15 I decided to sell the shares with a nice profit. After bringing in some nice premiums I sold the stock with a $4.15 profit and a total gain of $4150.
11/20/17 – Buy 1000 Shares RH @ $101.00
12/4/17 – Sell 1000 Shares RH @ $105.15
Profit +$4150
SNAP
A few weeks ago I sold a $14 PUT on SNAP. The stock took a big dip to $12.50 and on expiration day I was put the stock at $14. It took 4 week but the stock came back up above $14 and I was able to sell my 1000 shares at $14.75 for a $750 profit.
11/7/17 – Buy 1000 Shares SNAP @ $14.00
12/5/17 – Sell 1000 Shares SNAP @ $14.75
Profit +$750
RH
A few days after I sold the RH shares mentioned in the trade above, I bought another 1000 shares. A few days after earnings it looked like the stock was gonna move more. On 12/7 I bought the 1000 shares at $105.99. The next day it went up to $107.75 and I jumped out again for a gain of $1.76 ($1760). Not bad for a 1 day trade!
12/7/17 – Buy1000 Shares RH @ $105.99
12/8/17 – Sell 1000 Shares RH @ $107.75
Profit +$1760
U S Steel
On 12/6 some good news came out concerning the steel industry. U S Steel (X) jumped and I decided to do a “Buy-Write.” I bought 1000 shares at $31.95 and sold an At-the-Money ($32) Call for a premium of 50¢ ($500). I was hoping the stock would continue to move and I would get assigned. That’s just what happened! The stock stayed above the $32 Strike Price and I was assigned. This was a nice 2 day trade.
12/6/17 – Buy 1000 Shares X @ $31.95
12/8/17 – Assigned 1000 Shares X @ $32.00
Profit +$50
12/6/17 – Sell to Open 10 X 12/8/17 $32.00 C @ 50¢ (+$500)
12/8/17 – Expired 10 X 12/8/17 $32.00 C
Profit +$500
Total Weekly Gain +$7210
I hope I’m careful enough to keep this in my mattress!
With only 3 more expiration Fridays left to 2017, I hope I can be discipline enough to finish the year on a good note.
Steve
The Options Coach