{"id":12530,"date":"2021-11-04T15:13:31","date_gmt":"2021-11-04T19:13:31","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?page_id=12530"},"modified":"2021-11-04T15:17:10","modified_gmt":"2021-11-04T19:17:10","slug":"completely-out-of-mchp-positions","status":"publish","type":"page","link":"https:\/\/www.mainstbeatswallst.com\/?page_id=12530","title":{"rendered":"Completely Out of MCHP Positions"},"content":{"rendered":"

Most readers know Microchip (MCHP) split on Oct 12th. Less than a month ago. I had one more position remaining after being in 5 positions with my split strategy. I entered 5 positions since the split announcement, 3 pre-split and 2 post-split.<\/p>\n

My only remaining position I entered before the split and held until today, after the split. When I entered the stock was at $160 per share and I bought 5 contracts of the $160 Calls to expire on 1\/21\/22. After the split I owned 10 contracts of the $80 Calls. I was worried about this position because the stock dropped down to $70. Since my Expiration Date was in January I needed the stock to move with the stock $10 below my Strike. Last week the stock started to move and today with the stock at $82.50 I jumped out. Below is the buy-in order along with the sell order filled today.<\/p>\n

As you can see the premium was $6.80, but this was for 10 contracts. This premium gave me a profit of $1050. I held the position a little longer than a month for a return of $18.2%.<\/p>\n

Post 2:1 Split \u201cSell to Close\u201d<\/p>\n

9\/28\/21 \u00a0\u2013 Buy to Open 5 MCHP 1\/21\/22 $160.00 C @ $11.50 ($5.75 post split)\u00a0<\/strong><\/p>\n

11\/4\/21 \u2013 Sell to Close 10 MCHP 1\/21\/22 $80.00 C @ $6.80 <\/strong><\/p>\n

\u00a0Profit +$1050\u00a0<\/strong><\/span><\/h4>\n

 <\/p>\n

The sale of this position brings a conclusion to my Microchip split strategy plays. Below is a list of all the positions I entered after the split announcement, including today’s position.<\/p>\n

 <\/p>\n

8\/25\/21 \u2013 Buy to Open 2 MCHP 1\/21\/21 $150.00 C @ $13.00\u00a0<\/strong><\/p>\n

8\/27\/21 \u2013 Sell to Close 2 MCHP 1\/21 21 $150.00 C @ $18.80 <\/strong><\/p>\n

\u00a0Profit +$1160<\/strong><\/span><\/h4>\n
\n

8\/31\/21 \u2013 Buy to Open 2 MCHP 1\/21\/22 $155.00 C @ $13.00<\/strong><\/p>\n

9\/1\/21 \u2013 Sell toClose 2 MCHP 1\/21\/22 $155.00 C @ $15.00 <\/strong><\/p>\n

\u00a0Profit +$400<\/strong><\/span><\/h4>\n
\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 Open 5 MCHP 1\/21\/22 $160.00 C @ $13.80 <\/strong><\/p>\n

\u00a0Profit +$650<\/strong><\/span><\/h4>\n
\n

Post 2:1 Split \u201cSell to Close\u201d<\/strong><\/p>\n

10\/12\/21 \u2013 Buy to Open 5 MCHP 6\/17\/22 $145.00 C @ $14.40 ($7.20 post split)<\/strong><\/p>\n

10\/21\/21 \u2013 Sell to Close 10 MCHP 6\/17\/22 $72.50 C @ $9.20 <\/strong><\/p>\n

Profit +$2000<\/strong><\/span><\/h4>\n
\n

Post 2:1 Split \u201cSell to Close\u201d<\/strong><\/p>\n

9\/28\/21 \u00a0\u2013 Buy to Open 5 MCHP 1\/21\/22 $160.00 C @ $11.50 \u00a0($5.75 post split)<\/strong><\/p>\n

11\/4\/21 \u2013 Sell to Close 10 MCHP 1\/21\/22 $80.00 C @ $6.80 <\/strong><\/p>\n

Profit +$1050\u00a0<\/strong><\/span><\/h4>\n

 <\/p>\n

As a result of the MCHP split I made a total of $5260 with my split Strategy. The first position I entered on the split announcement on 8\/25. These are not my best results with a splitting stock but I’m very happy!<\/p>\n

 <\/p>\n

Successful trading,<\/p>\n

Steve<\/p>\n

The Options Coach<\/em><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Most readers know Microchip (MCHP) split on Oct 12th. Less than a month ago. I had one more position remaining after being in 5 positions with my split strategy. I entered 5 positions since the split announcement, 3 pre-split and 2 post-split. My only remaining position I entered before the split and held until today, […]<\/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-12530","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-3g6","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12530","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=12530"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12530\/revisions"}],"predecessor-version":[{"id":12532,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/12530\/revisions\/12532"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}