{"id":12102,"date":"2021-08-22T16:01:26","date_gmt":"2021-08-22T20:01:26","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?page_id=12102"},"modified":"2021-08-22T16:01:26","modified_gmt":"2021-08-22T20:01:26","slug":"results-week-ending-8-20-21","status":"publish","type":"page","link":"https:\/\/www.mainstbeatswallst.com\/?page_id=12102","title":{"rendered":"Results Week Ending 8\/20\/21"},"content":{"rendered":"

I’ve been extremely busy and haven’t done a week ending post in 2 weeks. It’s good to be back! I just wish I had a better week to report.<\/p>\n

As I wrote about many times, the indexes are near their all time highs but many stocks are nowhere near their 52 week highs. This is very frustrating to many investors\/traders. And I’m one of them.<\/p>\n

On both my Grasshopper page and my Master Trades page, I’m holding many positions that are way below their highs, and below where I bought in. This week I posted a loss because I decided to capitulate on a few positions. And as I plan to turn 2021 into a winning year, I plan more capitulation on additional positions. I will take additional losses but I feel that by putting the money to work in other positions I can be more successful in the long run. As long as I get into some great stocks that are moving upward. Or pick the correct positions to be Short.<\/p>\n

This week I jumped out of 2 positions, both I was in for a long time. The stocks are Inseego (INSG) and Momo (MOMO). For now I’m done with these stocks. I took my losses and I’m moving on. As I get out of a few more losses I think you will see my weekly returns be much better.<\/p>\n

With these 2 losses on the books my Grasshopper Field took a loss of $3498<\/span>. However, my entire account only took a loss of $943<\/span>. I had other positions that were winners. You can see all this week’s trades on my Active Trades<\/a><\/span> page.<\/p>\n

Let’s take a look at this week’s Grasshopper Trades.<\/p>\n

 <\/p>\n

Inseego<\/strong><\/p>\n

I bought 200 shares of Inseego on 2\/10\/21 at $19.85. This tech company who makes “hot spots” for Verizon just did not pan out. I decided to jump ship at $8 per share.<\/p>\n

2\/10\/21 \u2013 Buy 200 Shares INSG @ $19.85<\/strong><\/p>\n

8\/17\/21 \u2013 Sell 200 Shares INSG @ $8.00<\/strong><\/p>\n

\u00a0Loss -$2370<\/strong><\/span><\/span><\/h4>\n
\n

MOMO<\/strong><\/p>\n

MOMO is a Chinese social media platform. I bought 400 shares on 3\/25\/21 at $15.25. This is not the only shares I ever owned of MOMO. I’ve been buying, selling Calls, and getting assigned for a while now. I took in some nice premiums but decided I had enough. I sold my shares at $11.60.<\/p>\n

3\/25\/21 \u2013 Buy 400 Shares MOMO @ 15.25<\/strong><\/p>\n

8\/17\/21 \u2013 Sell 400 Shares MOMO @ $11.60 <\/strong><\/p>\n

\u00a0Loss -$1460<\/strong><\/span><\/span><\/h4>\n

In the long run I’m ahead with MOMO, but took my lumps with these shares.<\/p>\n

\n

U.S. Steel<\/strong><\/p>\n

As most of you know I’ve been in U.S. Steel (X) a long time. I bought the shares that covered this Call at 2 points. 200 shares at $28 and 200 shares at $27.25. I sold 4 contracts of the $28 Calls. To my surprise I was not assigned. This week the stock was well above $29 but fell back before the close. The stock is in the $27 area. I should get a 4 contract Call sold on Monday.<\/p>\n

7\/21\/21 \u2013 Sell to Open 4 X 8\/20\/21 $28.00 C @ 38\u00a2 (+$152)<\/strong><\/p>\n

8\/20\/21 \u2013 Expired 4 X 8\/20\/21 $28.00 C<\/strong><\/p>\n

Profit +$152<\/strong><\/span><\/h4>\n
\n

Macys<\/strong><\/p>\n

On 6\/28\/21 I bought 200 shares of M at $19.20 as a Grasshopper Trade. I’ve been in the stock and have been assigned a few times. With these shares the stock dropped back so I sold an In-the-Money Covered Call to get a decent premium. Earning came out and the stock moved above my Strike Price. I was assigned at $19. I lost 20\u00a2 on the stock sale but made 75\u00a2 on the premium.<\/p>\n

In-the-Money Covered Call<\/p>\n

6\/28\/21 \u2013 Buy 200 Shares M @ $19.20<\/strong><\/p>\n

8\/20\/21 \u2013 Assigned 200 Shares M @ $19.00<\/strong><\/p>\n

\u00a0Loss -$40<\/strong><\/span><\/p>\n

7\/21\/21 \u2013 Sell to Open 2 M 8\/20\/21 $19.00 C @ 75\u00a2 ($150)<\/strong><\/p>\n

8\/20\/21 \u2013 Expired 2 M 8\/20\/21 $19.00 C\u00a0<\/strong><\/p>\n

\u00a0Profit +$150<\/strong><\/span><\/p>\n

Total Profit +$110<\/strong><\/span><\/h4>\n
\n

Harley Davidson<\/strong><\/p>\n

HOG is another stock that’s been a thorn in my side. I bought 200 shares on 8\/9\/21 at $51,10 as a Grasshopper Trade on a recommendation from CNBC’s Najarian Bros. They had it on their “unusual activity” list. It did nothing but go down! I’m still trying to bring in premiums but may be bailing out very soon.<\/p>\n

8\/9\/21 \u2013 Sell to Open 2 HOG 8\/20\/21 $41.50 C @ 35\u00a2 (+$70)<\/strong><\/p>\n

8\/20\/21 \u2013 Expired 2 HOG 8\/20\/21 $41.50 C<\/strong><\/p>\n

\u00a0Profit +$70 \u00a0<\/strong><\/span><\/h4>\n
\n

Total Weekly Loss -$3498<\/span><\/h2>\n
\n

I brought in a few dollars with X, M and HOG but this was a bad week for The Grasshopper Field. I had a few nice trades in my main account to cut my losses to -$943.<\/p>\n

I’m gonna work hard to bounce next week.<\/p>\n

 <\/p>\n

Successful trading,<\/p>\n

Steve<\/p>\n

The Options Coach \u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

I’ve been extremely busy and haven’t done a week ending post in 2 weeks. It’s good to be back! I just wish I had a better week to report. As I wrote about many times, the indexes are near their all time highs but many stocks are nowhere near their 52 week highs. This is […]<\/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-12102","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-39c","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12102","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=12102"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12102\/revisions"}],"predecessor-version":[{"id":12103,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12102\/revisions\/12103"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}