{"id":11207,"date":"2021-04-23T14:50:58","date_gmt":"2021-04-23T18:50:58","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?page_id=11207"},"modified":"2021-04-23T14:50:58","modified_gmt":"2021-04-23T18:50:58","slug":"sold-a-long-apple-position-plus-sold-calls-with-cree-u-s-steel","status":"publish","type":"page","link":"https:\/\/www.mainstbeatswallst.com\/?page_id=11207","title":{"rendered":"Sold a Long Apple Position, Plus Sold Calls with CREE & U.S. Steel"},"content":{"rendered":"The new readers will not be familiar with this Apple (AAPL) position, but the long time subscribers will be.\r\n\r\nWay back on 8\/3\/20 I bought a number of LEAPS Calls with AAPL when the stock was splitting. I sold most of the positions but I held on to one. I made some real nice profit with all the positions sold and I just made more selling the last position. I probably would have made the same amount of money if I sold this one with the rest of them but it had an Expiration Date of 6\/17\/22 so I held it to see where it might go. Since I sold the other position Apple really didn’t move much so I decided to sell the last one today. Like I said, on 8\/3\/20, with the stock at $443, I bought 1 AAPL 6\/17\/22 $440 Call for a premium of $77.75 for $7775. This is a long term option called a LEAPS. When the stock did a 4:1 split a few days later I ended up with 4 AAPL 6\/17\/22 $110 Calls. Today with the stock up with the rest of the market I sold 4 Apple LEAPS at $32. The 4 $32 Calls were worth $12,800. When you subtract the investment of $7775 my profit is $5025. I held the position for 8 months but my return is 64.6%.\r\n\r\n \r\n

Post 4:1 Split (Sell to Close)<\/p>\r\n

8\/3\/20 – Buy to Open 1 AAPL 6\/17\/22 $440.00 C @ $77.75\u00a0<\/strong><\/p>\r\n\r\n

4\/23\/21 – Sell to Close 4 AAPL 6\/17\/22 $110.00 C @ $32.00<\/strong><\/p>\r\n\r\n

Profit +$5025\u00a0<\/strong><\/span><\/h4>\r\n \r\n\r\nI really don’t like the way the market has been moving. All indexes are at all time highs but many stocks are nowhere near that. I have no idea where Apple is going. Even though I still had a year before this LEAPS expired I decided to cash in and put the money back to work elsewhere. You never lose money taking profit.\r\n\r\nIf you have any questions on how this LEAPS worked with a splitting stock send me an email.\r\n\r\n
\r\n\r\nWith the market winding down on the week I decided to sell some Calls to get next week started. I have Calls sold on these stocks now but I don’t think I’ll get assigned so I sold more Calls for next week.\r\n\r\nWith Cree I sold 10 CREE 4\/30\/21 $120.00 Calls for a premium of $2.50 for $2500. I’m in this stock at $121.50 and I really want to get out. If I get assigned I’ll lose $1.50 on the stock but I’ve been taking in a lot of premiums so I’ll be OK.\r\n\r\n \r\n

Sell to Open 10 CREE 4\/30\/21 $120.00 C @ $2.50 (+$2500)<\/strong><\/p>\r\nThis get a Risk Factor 2 only because I’ll lose money on assignment. No problem! I still hope I get assigned.\r\n\r\n

\r\n\r\nI have 2 Grasshopper Trades going with U.S. Steel (X). Both are 1 contracts and both expire today at the close. 1 has a Strike Price of $23.50 and the other $24.50. I just sold 2 more Calls against these shares because I didn’t think I’d get assigned. However, as I write the stock went above the $23.50 Strike Price and is at $23.60. If I get assigned one of the Calls I just sold will be naked for next week. I’ll deal with it at the close. I might buy another 100 shares. If you are a Grasshopper and don’t understand what I’m doing send me an email, it’s important.\r\n\r\nI sold 1 X 4\/30\/21 $23.50 Call for a premium of 95\u00a2 for $95. And I sold a 4\/30\/21 $24.50 Call for a premium of 70\u00a2 for $70.\r\n\r\n \r\n

Sell to Open 1 X 4\/30\/21 $23.50 C @ 95\u00a2 (+$95)<\/strong><\/p>\r\n \r\n

Sell to Open 1 X 4\/30\/21 $24.50 C @ 70\u00a2 (+$70)<\/strong><\/p>\r\n \r\n\r\nI’m typing very fast because I have so much to do, so if I’m not making sense please send me an email. The 2 U.S. Steel Calls will be listed in “The Grasshopper Field.”\r\n\r\n \r\n\r\nSuccessful trading,\r\n\r\nSteve\r\n\r\nThe Options Coach<\/em>","protected":false},"excerpt":{"rendered":"

The new readers will not be familiar with this Apple (AAPL) position, but the long time subscribers will be. Way back on 8\/3\/20 I bought a number of LEAPS Calls with AAPL when the stock was splitting. I sold most of the positions but I held on to one. I made some real nice profit […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-11207","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-2UL","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11207"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11207\/revisions"}],"predecessor-version":[{"id":11208,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11207\/revisions\/11208"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}