While enjoying another great week of weekly gains there was one major issue. That is an issue with the goals of MY strategy. The issue I talk about is with assignments. Most readers know that when I do Covered Calls I like to get assigned on Expiration Day. I say “my” strategy because not everyone likes to get assigned. I enjoy getting assigned! It gives me the fulfillment of making the money I signed up for and makes my money available for other trading opportunities that might better serve my goals. I feel if I’m not assigned I will be in a stock position that might be below my buy-in price. And as we all know this can lead to being stuck in a situation where our money is idle.<\/p>\n
I start with this note because the last 2 weeks I was assigned on every Covered Call I entered. I like that feeling better!<\/p>\n
Don’t get me wrong, I’m very happy with this week’s take, but as a result of this week will I have money in a situation where I cannot put it to work?<\/p>\n
The last 2 weeks I was assigned on every position and this week I was assigned on none. This handcuffs me to work with the stock positions I own rather than have the freedom to enter any position that might be better this week.<\/p>\n
Let’s take a look at this week’s positions.<\/p>\n
I start with Nvidia. This was not a Covered Call, it was a Long option. Back on 1\/10\/22 I bought 7 contracts of the NVDA 6\/17\/22 $270 Calls. With the weak beginning of the new year I was a little worried about this position. Especially with the start of the war. Nvidia has been on the move lately and I was able to get out of this position with a nice profit and before Time Decay became a problem. This position was half of the week’s profit.<\/p>\n
After Nvidia, the following positions were all Covered Calls without assignment.<\/p>\n
<\/p>\n
Nvidia<\/strong><\/span><\/p>\n 1\/10\/22 \u2013 Buy to Open 7 NVDA 6\/17\/22 $270.00 C @ $28.50<\/strong><\/p>\n 3\/29\/22 \u2013 Sell to Close 7 NVDA 7\/17\/22 $270.00 C @ $35.75\u00a0<\/strong><\/p>\n Tesla<\/strong><\/span><\/p>\n 3\/28\/22 \u2013 Sell to Open 1 TSLA 4\/1\/22 $1125.00 C @ $20.00 (+$2000)<\/strong><\/p>\n 4\/1\/22 \u2013 Expired 1 TSLA 4\/1\/22 $1125.00 C <\/strong><\/p>\n Tesla<\/strong><\/span><\/p>\n 3\/28\/22 \u2013 Sell to Open 1 TSLA 4\/1\/22 $1170.00 C @ $10.00 (+$1000)<\/strong><\/p>\n 4\/1\/22 \u2013 Expired 1 TSLA 4\/1\/22 $1170.00 C <\/strong><\/p>\n Nvidia<\/strong><\/span><\/p>\n 3\/29\/22 \u2013 Sell to Open 2 NVDA 4\/1\/22 $290.00 C @ $4.00 (+$800)<\/strong><\/p>\n 4\/1\/22 \u2013 Expired 2 NVDA 4\/1\/22 $290.00 C <\/strong><\/p>\n Micron<\/strong><\/span><\/p>\n 3\/30\/22 \u2013 Sell to Open 5 MU 4\/1\/22 $85.00 C @ $2.00 (+$1000)<\/strong><\/p>\n 4\/1\/22 \u2013 Expired 5 MU 4\/1\/22 $85.00 C <\/strong><\/p>\n I’m very happy with the last few weeks. I have a long way to go but my account is recovering nicely.<\/p>\n Sorry for the late report. College basketball is now over, I hope everyone enjoyed the final game. I have been a long time North Carolina fan, since the days of Dean Smith, but it was a great game. However, it had a chance to have a \u00a0spectacular ending. If UNC hit their final 3 point shot at the buzzer it would have gone into overtime and a completely different ending.<\/p>\n Good luck this week!<\/p>\n <\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" While enjoying another great week of weekly gains there was one major issue. That is an issue with the goals of MY strategy. The issue I talk about is with assignments. Most readers know that when I do Covered Calls I like to get assigned on Expiration Day. I say “my” strategy because not everyone […]<\/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-13292","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-3so","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/13292","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=13292"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/13292\/revisions"}],"predecessor-version":[{"id":13293,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/13292\/revisions\/13293"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Profit +$5075<\/strong><\/span><\/h4>\n
\nProfit +$2000<\/strong><\/span><\/h4>\n
\n\u00a0Profit +$1000<\/strong><\/span><\/h4>\n
\nProfit +$800<\/strong><\/span><\/h4>\n
\nProfit +$1000<\/strong><\/span><\/h4>\n
\nTotal Weekly Gain +$9875<\/h2>\n
\n