I’m having quite the busy day. I wanted to report a few trades while I had a few free minutes.<\/p>\n
Most readers know that the stock Microchip (MCHP) is doing a 2:1 split on Oct 12th. I’ve been in and out of a few positions, taking advantage of the stock moving up while I wait for the split. On 9\/17 I bought 5 contracts of the MCHP 1\/21\/22 $160 Calls for $12.50. Today, 6 days later I sold these Calls. Why? I love to lock in profit! I sold the 5 contracts for $13.80. My profit was $1.30. On the 5 contracts the profit is $650. That’s a 10.4% return in 6 days.<\/p>\n
<\/p>\n
9\/17\/21 \u2013 Buy to Open 5 MCHP 1\/21\/22 $160.00 C @ $12.50\u00a0<\/strong><\/p>\n 9\/23\/21 \u2013 Sell to Close 5 MCHP 1\/21\/22 $160.00 C @ $13.80 <\/strong><\/p>\n I will continue to get into MCHP Calls and hopefully continue to make money. The stock is at $164. I’d like it to dit back to $160 before I get back in. I don’t know if that will happen, if not I’ll watch and get back in where I feel I can make money. I will also buy Calls a day or 2 before the split and hold a little past the split.<\/p>\n I wrote a few days ago that MCHP was at a good price to get in. If anyone got in they made some nice money.<\/p>\n Today I also got out of my Marvell Calls. I made money but not as much as I thought I would. Way back on 1\/27\/21 I bought 5 contracts of the MRVL 1\/21\/22 $55 Calls for a premium of $9.45. The stock moved up but the premium didn’t go up like I hoped. Time Decay is starting to work against me. This Call expires in January so I felt it was time to get out. I don’t like Long options getting too close to expiration. I sold my contracts at $10.50 for a profit of $1.05. On the 5 contracts I made $525. That’s a return of 11%. Not bad but I held this position for 8 months. Selling this position is part of me liquidating to work on my Day Trading.<\/p>\n <\/p>\n 1\/27\/21 \u2013 Buy to Open 5 MRVL 1\/21\/22 $55.00 C @ $9.45\u00a0<\/strong><\/p>\n 9\/23\/21 \u2013 Sell to Close 5 MRVL 1\/21\/22 $55.00 C @ $10.50 <\/strong><\/p>\n I also made 1 Day Trade. Blackberry (BB) reported earnings yesterday and gapped up in the pre-market at 7am this morning. At the open I was ready to get involved. When the market opened the stock dropped, but then it started to go up. Once it went above the pre-market highs and broke above the Volume Weighted Average Price (VWAP) I felt it would go higher. From the open this move is a drop & pop. I got in with 1000 shares at $10.52 and the stock went up above $10.80. When it was at $10.80 I put on a Stop Loss at $10.72. If I got stopped out at $10.72 it would be a 20 cents profit for $200. The stock dropped back and I was stopped out.<\/p>\n 9\/23\/21 – Buy 1000 Shares BB @ $10.52<\/strong><\/p>\n 9\/23\/21 – Sell 1000 Shares BB @ $10.72<\/strong><\/p>\n I know it’s not a lot of money but I’m just practicing my strategy. I’ll be watching BB to see if I think it will drop back because of the early morning gap up.<\/p>\n <\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" I’m having quite the busy day. I wanted to report a few trades while I had a few free minutes. Most readers know that the stock Microchip (MCHP) is doing a 2:1 split on Oct 12th. I’ve been in and out of a few positions, taking advantage of the stock moving up while I wait […]<\/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-12314","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-3cC","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12314","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=12314"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12314\/revisions"}],"predecessor-version":[{"id":12315,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12314\/revisions\/12315"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u00a0Profit +$650<\/strong><\/span><\/h4>\n
\nProfit +$525<\/strong><\/span><\/h4>\n
\nProfit +$200<\/strong><\/span><\/h4>\n