Had a very nice week, exiting only 1 trade.
Today is Dec 28th. We start a new year Wednesday, with our first trading day of the new year, Thursday.
When it comes to trading I couldn’t ask for a better year. I think this was as a result of me not coaching basketball this year, and the Trump Train making it a little easier to predict which way the market was gonna move. However, I must give my philosophy and strategy a little credit because it looks like I’ll end the year up 100%. I don’t think this will happen to often! And I don’t think to many people did that, even this year.
This will be my last “week ending results” of 2019. It’s possible I’ll have a trade or 2 this week but the results will be for week ending 1/3/20. Let the “Roaring 20’s” begin!
My last 2 post reported me selling a Call on my Jabil (JBL) shares, and getting out of that Covered Call a day later on Expiration Day.
You can read about me selling the Call at Made a Move With Jabil. Even though JBL is a great stock, I decided it didn’t fit into my every day trading scheme to start the new year. There is a possibility the stock will fit into one of the portfolios of Wealth Builder soon, but not at the moment. JBL will be a big player with 5G because it’s a supplier for Apple (AAPL). I feel 5G will kick in during 2020 and tech stocks will reflect this in their stock prices. The key will be to pick the correct 5G stocks and I think JBL will be one of them. I did get out of JBL, temporarily, but I still own a 10 contract LEAPS.
On Thursday I was selling JBL at $41.50. With the stock at $41.50 I decided to sell a $41.50 Call to expire the next day, Friday. I didn’t think the stock would move much either way so I took a 20¢ premium to sell the next day. I was hoping the stock would stay above the $41.50 Strike and I would get assigned. Friday, Expiration Day, the stock was still around my desired selling price but I felt by the end of the day the stock would be below. I had to leave my house and I decided to put in a sell order in at $41.58. I bought the stock at $39.08 on 11/27. To try to make this long story shorter, my sell order was filled, I went Naked on the Call, and the stock closed at $41.24. Everything worked out as planned and I’m out of JBL stock. You can read about this at Sold My Jabil Shares.
11/27/19 – Buy 1000 Shared JBL @ $39.08
12/27/19 – Sell 1000 Shares JBL @ $41.58
Profit +$2500
12/16/19 – Sell to Open 10 JBL 12/27/19 $41.50 C @ 20¢ (+$200)
12/27/19 – Expired 10 JBL 12/27/19 $41.50 C
Profit +$200
If you have any questions on this little bit of a gamble move send me an email.
Total Weekly Gain +$2700
This will be a very low volume trading week with the market closed on Wednesday, and many on Wall Street on vacation.
Successful trading,
Steve
The Options Coach