Two Trades in The Grasshopper Project
I was in Manhattan today taking my wife to the doctor. Before leaving home, I made one trade for The Grasshopper Project, posted earlier. While waiting in the doctor’s office, I opened my laptop and placed two more.
These were quick trades — trading both my own account and The Grasshopper Project at the same time — so one ended up slightly outside the usual Project playbook. I’ll explain below.
Hims & Hers (HIMS) — ATM Covered Call
Trade Details:
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Buy: 100 shares HIMS @ $50.00
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Sell to Open: 1 contract HIMS 7/3/25 $50.00 Call
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Premium Collected: $1.70 (+$170)
I normally aim for in-the-money (ITM) Calls in The Grasshopper Project. However, in the rush of the waiting room, I sold an at-the-money (ATM) Call instead. Still, I believe this is a safe trade with good odds.
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If my 100 shares are called away at $50, I’ll break even on the shares themselves but keep the $170 premium as profit. This would be a ROI of 3.4%
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If HIMS closes below $50, I’ll hold the shares and still keep the premium.
SoFi Technologies (SOFI) — Cash-Secured Put
Trade Details:
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Sell to Open: 1 contract SOFI 7/3/25 $18.00 Put @ 35¢
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Premium Collected: $35
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Stock Price at Entry: $18.20
This is my second cash-secured Put on SOFI this week. The first was at a Strike of $18.50, this one is at $18.
Same game plan:
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If SOFI stays above $18 by expiration, I keep the premium with no shares.
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If it drops below, I’m happy to own it at an adjusted cost basis and will start selling Calls against the shares.
Summary
Even on a busy day, the Project stays focused on its core principles:
✅ Steady income
✅ Disciplined entries
✅ Controlled risk
The Grasshopper Project is fully invested for the week. There are 4 positions pending. 1 position was carried over from last week and I made 3 more today. Let’s watch to see how the Project does through the first 2 weeks.
If you have questions about these trades — or want me to look at any stocks for future Project trades — let me know.
📈Successful trading,
Steve
The Options Coach