I made these trades earlier but didn’t get time to report. I spent most of my day stretching the wrinkles out of my brain trying to come up with a way out of a substantial problem.<\/p>\n
Last night I heard from my account about my 2020 tax returns. With the extension taxes are due in the beginning of the 3rd week in May.<\/p>\n
For you active traders\/investors you are well aware that 2021 is much different than 2020. I know we keep hearing the new records the indexes are hitting, but most stocks are much lower than a month or 2 ago, and some are lower than their year opening prices. All of my positions are lower.<\/p>\n
Most readers know I had a huge year in 2020. My problem is I now have a huge tax bill. I am never completely invested, and always have money on the sidelines, However, with my stock down I’m not 100% prepared to withdraw between 100 and 150 thousand dollars. I never said this game is tax free lol.<\/p>\n
I have another week to get my tax money together and hopefully I don’t have to hurt my trading account too much.<\/p>\n
I’ll be making adjustments to some positions and I will get it done. Today I closed some small positions. every little bit will help lol. At the end of March I sold Calls on XPEV and NKLA to expire on May 21st. These positions are down so I was able to Buy to Close the positions with almost all the premium locked into my account. Below are the positions I closed.<\/p>\n
<\/p>\n
Xpang<\/strong><\/p>\n With this Call I signed up for $1000 and getting out early I was able to lock in $960.<\/p>\n 3\/31\/21 \u2013 Sell to Open 10 XPEV 5\/21\/21 $50.00 C @ $1.00 (+$1000)<\/strong><\/p>\n 5\/5\/21 \u2013 Buy to Close 10 XPEV 5\/21 21 $50.00 C @ 4\u00a2 (-$40) <\/strong><\/p>\n Nikola<\/strong><\/p>\n With this position I signed up for $700 and today I closed, locking in $630.<\/p>\n 3\/31\/21 \u2013 Sell to Open 10 NKLA 5\/21\/21 $20.00 C @ 70\u00a2 (+$700)<\/strong><\/p>\n 5\/5\/21 \u2013 Buy to Close 10 NKLA 5\/21 21 $20.00 C @ 7\u00a2 (-$70) <\/strong><\/p>\n Nikola<\/strong><\/p>\n This was a Grasshopper Trade. I got into it with the trade above. I really didn’t have to close this but I did along with the 10 contract trade. I just closed the entire 11 contract position. This only cost me 7 bucks.<\/p>\n 3\/31\/21 \u2013 Sell to Open 1 NKLA 5\/21\/21 $20.00 C @ 70\u00a2 (+$70)<\/strong><\/p>\n 5\/5\/21 \u2013 Buy to Close 1 NKLA 5\/21\/21 $20.00 C @ 7\u00a2 (-$7) <\/strong><\/p>\n I also sold a Call on PTON. This stock is taking a huge beating and so am I. They report earnings tomorrow but they took a big hit today because they had to recall a load of their treadmills. Stock was down $14. With the stock at $82.50 I sold 20 $98 Calls. I went out with the Strike Price because I don’t want to get assigned. It’s possible the stock can pop with good earnings.<\/p>\n Sell to Open 20 PTON 5\/7\/21 $98.50 C @ 70\u00a2 (+$1400)<\/strong><\/p>\n <\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" I made these trades earlier but didn’t get time to report. I spent most of my day stretching the wrinkles out of my brain trying to come up with a way out of a substantial problem. Last night I heard from my account about my 2020 tax returns. With the extension taxes are due in […]<\/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-11319","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-2Wz","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11319","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=11319"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11319\/revisions"}],"predecessor-version":[{"id":11320,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/11319\/revisions\/11320"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Profit +$960<\/strong><\/span><\/h4>\n
\nProfit +$630<\/strong><\/span><\/h4>\n
\n\u00a0Profit +$63<\/strong><\/span><\/h4>\n
\n