What a fantastic, unexpected week! With Monday being a holiday and Tuesday being a down day, I didn’t expect to make any trades to expire by Friday. And I didn’t! But I did get out of a bunch of position where the profit added up to be over $6000.
I did get into 3 positions this week but because of the shortened week they all have the Expiration Date of next Friday, 9/13. Next week is also shaping up to be a very good week. I can say that now because all 3 positions are Covered Calls and all 3 are In-the-Money, or very close. Most readers know I love to get assigned and move on to the next position. Plus, with the trade talk meetings already set up I feel it will be a low news week when it comes to trade rhetoric.
Wednesday the market started to move on news that the U.S/China trade talks will resume in October. This is when I got into these 3 positions. Since Friday was a little close for a decent premiums when selling Calls I went out to next Friday, 9/13.
I had 4 trades close this week. 3 were selling Long Call positions and 1 was buying my way out of a Short Call position. I listed all the trades below. Today is the first Sunday of football and I’m enjoying the arm chair today. For this reason I am a little short on time to write about each trade so I’ll link each trade to the page from when I reported the trade. If you want to read about each trade, which I recommend, just hit the link.
Applied Material
8/27/19 – Buy to Open 10 AMAT 6/19/20 $45.00 C @ $5.97 ($5970)
9/4/19 – Sell to Close 10 AMAT 6/19/20 $45.00 C @ $8.18 ($8180)
Profit +$2210
To read about me getting in and out of this position, read here.
Nvidia
8/20/19 – Buy to Open 5 NVDA 1/17/20 $170.00 C @ $15.45 ($7725)
9/5/19 – Sell to Close 5 NVDA 1/17/20 $170.00 C @ $20.00 ($10,000)
Profit +$2275
Micron
7/29/19 – Buy to Open 10 MU 1/17/20 $47.00 C @ $5.60 ($5600)
9/5/19 – Sell to Close 10 MU 1/17/20 $47.00 C @ $6.60 ($6600)
Profit +$1000
Advanced Micro Devices
8/30/19 – Sell to Open 10 AMD 1/17/20 $35.00 C @ $2.70 (+$2700)
9/6/19 – Buy to Close 10 AMD 1/17/20 $35.00 C @ $2.15 (-$2150)
Profit +$550
As you can see this turned out to be a great week of locked-in money.
Total Weekly Gain +$6035
I hope everyone is enjoying their weekend and the 1st week of Football.
Tune into Main Street beats Wall Street this week. Let’s see what I can do.
Steve
The Options Coach