{"id":14118,"date":"2024-03-12T20:24:41","date_gmt":"2024-03-13T00:24:41","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?page_id=14118"},"modified":"2024-03-12T20:28:12","modified_gmt":"2024-03-13T00:28:12","slug":"results-week-ending-3-8-24","status":"publish","type":"page","link":"https:\/\/www.mainstbeatswallst.com\/?page_id=14118","title":{"rendered":"Results Week Ending 3\/8\/24"},"content":{"rendered":"

Sorry for the late report but this week I had a Bull Call Spread<\/strong> expire and I had to write a page on this strategy so you would understand what I was writing about. The Bull Call Spread<\/strong> page is now in the top menu bar.<\/p>\n

I had another good week but I continue to move slowly. This week might not be as good as the last two because I have as much invested as I want and I might not get out of any positions this week. I will if some of the options I’m holding make nice moves. All the options I’m holding expire in June or later. However, if I have the gains I want I will sell. I also have 3 Bull Call Spread<\/strong>s expiring this Friday. They are with SQ (2) and MU (1). I had a Bull Call Spread<\/strong> expire Friday and it’s part of this report. I ended up with the maximum profit.<\/p>\n

Let’s take a look at the trades that ended on Friday.<\/p>\n

Micron<\/strong><\/span><\/h4>\n

On 3\/4 I bought a 2 contract option with Micron (MU). The position did not expire until June but I had the profit I wanted so I sold on Friday.<\/p>\n

3\/4\/24 \u2013 Buy to Open 2 MU 6\/21 24 $95.00 C @ $9.40<\/strong><\/p>\n

3\/8\/24 -Sell to Close 2 MU 6\/21 24 $95.00 C @ $12.00<\/strong><\/p>\n

Profit +$520<\/strong><\/span><\/h4>\n

I bought the option with the premium at $9.40. I paid $1880 for the 2 contracts. My goal was to get out with the premium at $11.75 which would have been 25%. I ended up getting out at $12 for a gain of 27.6%.<\/p>\n

\n

Advanced Micro Devices<\/strong><\/span><\/h4>\n

I bought this 1 contract Call with Advanced Micro Devices (AMD) on 3\/1 and sold on 3\/8. This option also didn’t expire until June.<\/p>\n

3\/1\/24 \u2013 Buy to Open 1 AMD 6\/21\/24 $200.00 C @ $24.70<\/strong><\/p>\n

3\/8\/24 \u2013 Sell to Close 1 AMD 6\/21\/24 $200.00 C @ $34.70<\/strong><\/p>\n

Profit $1000<\/strong><\/span><\/h4>\n

I paid $2470 for the option and wanted to get out at $30.90 which is 25%. The stock moving up and I didn<\/p>\n

t sell until it hit $34.70 for a profit of $1000 and a return of 40.4%<\/p>\n

\n

SNAP<\/span><\/h4>\n

I bought a 5 contract Call with Snap (SNAP). I saw the chart and I felt it was ready for a pop. Luckily I was right and I grabbed a nice profit. I bought the position on 3\/1 and sold on 3\/8.<\/p>\n

3\/1\/24 \u2013 Buy to Open 5 SNAP 6\/21\/24 $12.00 C @ $1.28<\/strong><\/p>\n

3\/8\/24 \u2013 Sell to Close 5 SNAP 6\/21\/24 $12.00 C @ $2.15 <\/strong><\/p>\n

Profit +$435<\/strong><\/span><\/h4>\n
\n

Block<\/strong><\/span><\/h4>\n

This trade was a Covered Call. I bought 200 shares of Block (SQ) at $78 on 3\/4 and sold a Covered Call on 3\/6 bringing in a premium of 50\u00a2 for a $100 premium. I should have sold the Call when I bought the stock but I got greedy and I felt the stock was gonna move up so I waited for a higher premium. It didn’t work! The stock moved down and I didn’t get the Call sold until 2 days later. It didn’t work the way I wanted but I still made some money.<\/p>\n

3\/4\/24 \u2013 Buy 200 Shares SQ @ $78.00<\/strong><\/p>\n

3\/8\/24 -Assigned 200 Shares SQ @ $79.00<\/strong><\/p>\n

Profit +$200<\/strong><\/span><\/h4>\n

3\/6\/24 \u2013 Sell to Open 2 SQ 3\/8\/24 $79.00 C @ 50\u00a2 (+$100)<\/strong><\/p>\n

3\/8\/24 \u2013 Expired 2 SQ 3\/8\/24 $79,99 C<\/strong><\/p>\n

Profit +$100<\/strong><\/span><\/h4>\n

The stock moved up above my $78 Strike Price and I was assigned. I made $1 on the stock, $200 on the 200 shares. And I kept the $100 premium. The Covered Call gave me a profit of $300. I’m Happy!<\/p>\n

\n

Micron<\/strong><\/span><\/h4>\n

Please read my new page on Bull Call Spreads<\/a><\/span>. I explain the inner workings of the strategy. It sounds complicated but it’s really very simple. With the strategy you buy a (Long) Call and you sell a (Short) Call. The Call you buy has a lower Strike Price and the Call you sell a higher Strike Price. Both have the same Expiration Date. When you buy the Call you spend money and when you sell the Call you bring in a premium.<\/p>\n

To make the maximum profit the stock has to close above the higher Strike Price, which is the Call you sold. I entered this position on 2\/22 and the Expiration Day was 3\/8. This was a 2 week position.<\/p>\n

Bull Call Spread\u00a0<\/strong><\/p>\n

2\/22\/24 \u2013 Buy 2 MU 3\/8\/24 $86.00 C @ $2.65<\/strong><\/p>\n

2\/22\/24 \u2013 Sell 2 MU 3\/8\/24 $89.00 C @ $1.45<\/strong><\/p>\n

Net Cost = ($1.20)<\/strong><\/p>\n

MU Closed Above the $89 Strike for Max Profit<\/strong><\/p>\n

Profit +$360<\/strong> \u00a0<\/span><\/h4>\n

Buying the $86 Call cost me $2.65. Selling the $89 Call gave me a $1.45 premium. The Net Cost for the position is ($1.20). With the stock closing above the $89 (Short) Call I made the Maximum profit. Read the Bull Call Spread<\/a><\/span> page to see how all the math works. This is a very safe strategy and a favorite with options traders. After you read the page, email me any questions you have.<\/p>\n

\n

Total Weekly Gain$2615<\/strong><\/h2>\n
\n

It was nice having 2 winning weeks in a row with decent profits. Since I am fully invested this week might not be as big unless I sell some options.<\/p>\n

 <\/p>\n

Successful trading,<\/p>\n

Steve<\/p>\n

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

Sorry for the late report but this week I had a Bull Call Spread expire and I had to write a page on this strategy so you would understand what I was writing about. The Bull Call Spread page is now in the top menu bar. I had another good week but I continue to […]<\/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-14118","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-3FI","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/14118","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=14118"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/14118\/revisions"}],"predecessor-version":[{"id":14121,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/14118\/revisions\/14121"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}