It really feel good to be back on tract with most of my stocks, back up to where I bought. When trading options, sometimes your holdings go down and you have to curtail your trading for a while or you just have to bail out of a losing position and except the loss. Trading takes patience, risk tolerance, luck and sometimes a strong stomach. I’m very happy where I am in the month of May, and just had 2 very nice weeks. Let’s take a look at how this week went.
RH
I’m in my 2000 shares of RH at a few different prices. This week I sold 20 contracts of Calls at a couple of Strike Prices. I sold 15 contracts at $103 and 5 at $105. Truthfully, I was hoping to get assigned on my $103’s but it didn’t happen. The stock closed on Friday at $101.76. I got to keep all the premiums and look to sell more Calls this week. Below are the Calls I sold and expired.
5/14/18 – Sell to Open 10 RH 5/18/18 $103.00 C @ $2.05 (+$2050)
5/18/18 – Expired 10 RH 5/18/18 $103.00 C
Profit +$2050
5/14/18 – Sell to Open 5 RH 5/18/18 $105.00 C @ $1.35 (+$675)
5/18/18 – Expired 5 RH 5/18/18 $105.00 C
Profit +$675
5/14/18 – Sell to Open 5 RH 5/18/18 $103.00 C @ $2.05 (+$1025)
5/18/18 – Expired 5 RH 5/18/18 $103.00 C
Profit +$1025
Square
Square has been on a run after being too low to sell Calls for a while. This week I sold the $56.50 Calls and the stock closed at $55.04. I keep the premium and I still own the 500 shares. I look to sell another Call this week.
5/16/18 – Sell to Open 5 SQ 5/18/18 $56.50 C @ 50¢ (+$250)
5/18/18 – Expired 5 SQ 5/18/18 $56.50 C
Profit +$250
Another great week! I had a $4000 profit! Just in time to pay for my trip to Isla Mujeres, Mexico.
Total Weekly Gain $4000
Let’s see what I can do this week. The market opens in 5 minutes.
Steve
The Options Coach