I’ve been in Dish Network (DISH) since 9/16/19, owning shares and selling Calls. I just sold my 1000 shares so I’ll be out of DISH for now. Let’s see how the 2 months of own DISH worked out.
I bought the stock on 9/16/19. I really liked the way the chart pattern looked and I thought the stock was gonna shot up. It didn’t quite work out that way for the stock, but I sold multiple Calls and I feel my time with DISH worked out nice. Not as good as I thought, but nice!
When I bought the stock on 11/16 I also sold a Call. I got into this position to sell Calls. And I have sold Calls 4 times since owning the stock. But after my first Call the stock came down a bit and prevented me from sell another Call until 10/15. That’s a month of the no income. This was the most disappointing time of owning DISH. If I have $35,800 invested I want it to be working for me. It does not always work out that way, as evident with my 2 months with DISH.
In my 2 months I was able to sell 4 Calls and bring in a premium of over 1% for every 1 week option. Here are the dates and the premium I brought in: 9/16 – $850, 10/15 – $550, 11/5 – $750 and 11/11 – $400. I also made $100 on the stock sale today. The total income I made on my $35,800 investment, with the buying of 1000 shares at $35.80, was $2650. That’s all the premiums plus the $100 profit on the stock.
The bottom line is I invested $35,800 for 2 months and had a Rate of Return of 7.4%. There were many weeks I wasn’t able to get a Call sold and I still had a Rate of Return of almost 1% a week. Which is my return goal. Please read my strategy 1 Week/1%.
9/16/19 – Buy 1000 Shares DISH @ $35.80
11/18/19 – Sell 1000 Shares DISH @ $35.90
Profit +$100
I am still in Dish with the owning of an option. When I bought the stock on 9/16 I also bought an option to expire in June of 2020. I’ll hold the 10 contracts for a while and hopefully DISH moves after good earnings 2 week ago.
On a different note, who is watching my Advanced Micro Devices (AMD) debacle? Today the stock received another upgrade by Cowan with a price target of $47. AMD is up another $1 today. I’ve been in AMD many times, for a long time, I never saw it move like this. If I’m not questioning my prediction by now there’s something wrong with me. I am still looking at the RSI, which is at an all time high, but the brokerage houses are looking at the fundamentals. Technical Analysis vs Fundamental Analysis, who will come out the winner? I know with Murphy’s Law working overtime on me, if I cover my Call with the buying 1000 shares, the stock will drop like a rock! I starting to plan an exit strategy!
Successful trading,
Steve
The Options Coach