I’m sorry for the delay with this report. I’m still involved in coaching. High school is done but now I’m coaching AAU travel teams. When I get into something, I’m all in lol.
I’m also running a Sweet 16 Final Four Pool. It’s a pool where you have to pick the final four out of the remaining 16 teams. The tourney has been crazy! Anyone interested in joining send me an email and I’ll send you and entry sheet. It’s a lot of fun!
This week I had 3 trades. 2 involving Advanced Micro Devices (AMD) and 1 with Square (SQ). I sold a 20 contract Covered Call against 2000 shares of AMD I own. This was a $12.50 Call. It brought is an $800 premium. When it looked like I wasn’t going to get assigned because the stock was staying below my Strike Price I sold another 20 contract Call. Because the 1st Call was still going this 2nd Call was Naked. This 2nd Call had a Strike Price of $13. I went out a little just in case the stock had a pop. It would give me a little time to cover if needed.
The stock closed below both Strike Prices so both expired. The 1st Call gave me an $800 premium and the 2nd gave me $640. And I still own the stock.
3/8/18 – Sell to Open 20 AMD 3/16/18 $12.50 C @ 40¢ (+$800)
3/16/18 – Expired 20 AMD 3/16/18 $12.50 C
Profit +$800
3/12/18 – Sell to Open 20 AMD 3/16/18 $13.00 C @ 32¢ (+$640)
3/16/18 – Expired 20 AMD 3/16/18 $13 C
Profit +$640
On Wednesday I liked the way SQ was moving and I liked the 2 day premiums. I really didn’t want to own more stock so I did a Buy-Write picking a Strike Price with the hopes to get assigned. With the stock at $54.70 I bought 500 shares and I sold 5 contracts of the $55 Calls. The stock went up but then pulled back before expiration. I still own the 500 shares and I keep the $400 premium. I didn’t want to keep the stock but I really like it. It’s been moving nicely and I think it will continue up.
.3/14/18 – Sell to Open 5 SQ 3/16/18 $55.00 C @ 80¢ (+$400)
3/16/18 – Expired 5 SQ 3/16/18 $55.00 C
Profit +$400
Total Weekly Gain +$1840
Enjoy the NCAA’s
Steve
The Options Coach.
During the Market downturn yesterday I Sold MU $60.50 March 23 Puts for a $3.05 premium.
MU earnings are announced on March 22.
I listened to last Quarter’s Earnings Call and I believe they will hit or exceed expectations.
Stock is at $61 now. Right now I think I will hold these Options through Earnings, but…..
Yes, I understand the “but.”