{"id":14876,"date":"2024-12-22T12:39:40","date_gmt":"2024-12-22T17:39:40","guid":{"rendered":"https:\/\/www.mainstbeatswallst.com\/?page_id=14876"},"modified":"2024-12-22T12:46:04","modified_gmt":"2024-12-22T17:46:04","slug":"results-week-ending-12-20-24","status":"publish","type":"page","link":"https:\/\/www.mainstbeatswallst.com\/?page_id=14876","title":{"rendered":"Results Week Ending 12\/20\/24"},"content":{"rendered":"

I had a great beginning of the week but the market did not end the week so well. The Fed Chair, Jerome Powell announced that there would be a .25 basis point reduction in the prime lending rate, which was good news, but he didn’t stop there. He felt compelled to talk about possible interest rate moves that would be made in 2025. With a new administration coming in, and a lot of new policies, I felt the extra conversation was unnecessary at this time. We do not know how the new policies will affect the economy and what changes might take place in the Fed’s plans when it comes to interest rates. His comments have to do with the time period of the new administration so, to me, politics is involved where it should not be. This feeling might just be mine alone, but I feel a little optimism toward the new administration might have given us a stronger Santa Claus rally. This week will tell us if we even get a rally.<\/span><\/p>\n

Powell’s comments gave us one of the worst days of the year. I was able to have a good week because I jumped out of winning positions early in the week but I’m still holding a bunch of Long Options that I wanted to be out of to end the year. Now, as a result of Powell’s comments, I might get out of positions solely for a tax write-off. Let’s see how the market recovers; most of the time the market has a short memory.<\/p>\n

Below are the trades I exited which gave me a good week.<\/p>\n

<\/div>\n
\n
\n
\n
Tesla<\/strong><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n

12\/12\/24 \u2013 Buy to Open 1 TSLA 1\/10\/25 $425.00 C @ $31.50<\/strong><\/p>\n

12\/16\/24 \u2013 Sell to Close 1 TSLA 1\/10\/25 $425.00 C @ $41.50<\/strong><\/p>\n

\u00a0Profit +$1000<\/strong><\/span><\/h4>\n
\n

Tesla<\/strong><\/span><\/p>\n

12\/12\/24 \u2013 Buy to Open 1 TSLA 1\/10\/25 $425.00 C @ $30.00<\/strong><\/p>\n

12\/16\/24 \u2013 Sell to Close 1 TSLA 1\/10\/25 $425.00 C @ $50.00 <\/strong><\/p>\n

\u00a0Profit +$2000<\/strong><\/span><\/h4>\n
\n

ISHARES BITCOIN ETF <\/span>IBIT<\/span><\/strong><\/span><\/p>\n

12\/9\/24 \u2013 Buy to Open 2 IBIT 1\/17\/25 $57.00 C @ $4.80<\/strong><\/p>\n

12\/16\/24 \u2013 Sell to Close 2 IBIT 1\/17\/25 $57.00 C @ $6.90 <\/strong><\/p>\n

Profit +$420<\/strong><\/span><\/h4>\n
\n

SoundHound AI<\/strong><\/span><\/p>\n

12\/16\/24 \u2013 Buy to Open 1 SOUN 1\/17\/25 $20.00 C @ $3.65<\/strong><\/p>\n

12\/20\/24 \u2013 Sell to Close 1 SOUN 1\/17\/25 $20.00 C @ $4.65<\/strong><\/p>\n

\u00a0Profit +$100<\/span><\/strong><\/h4>\n
\n

Quantum Computing Inc.<\/strong><\/span><\/p>\n

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

11\/25\/24 \u2013 Buy 100 Shares QUBT @ $8.30<\/strong><\/p>\n

12\/20\/24 \u2013 Assigned 100 Shares QUBT @ $8.00<\/strong><\/p>\n

\u00a0Loss -$30<\/strong><\/span><\/h4>\n

12\/16\/24 \u2013 Sell to Open 1 QUBT 12\/20\/24 $8.00 C @ 65\u00a2 (+$65)<\/strong><\/p>\n

12\/20\/24 \u2013 Expired 1 QUBT 12\/20\/24 $8.00 C<\/strong><\/p>\n

\u00a0Profit +$65<\/strong><\/span><\/h4>\n
\n

Mara Holding<\/strong><\/span><\/p>\n

12\/16\/24 \u2013 Sell to Open 2 MARA 12\/20\/24 $26.00 C @ 50\u00a2 (+$100)<\/strong><\/p>\n

12\/20\/24 \u2013 Expired 2 MARA 12\/20\/24 $26.00 C<\/strong><\/p>\n

\u00a0Profit +$100<\/strong><\/span><\/h4>\n
\n

Palantir<\/strong><\/span><\/p>\n

12\/16\/24 \u2013 Buy 200 SharesPLTR @ $77.41<\/strong><\/p>\n

12\/20\/24 \u2013 Assigned 200 Shares PLTR @ $78.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong><\/p>\n

Profit +$118<\/strong><\/span><\/h4>\n

12\/16\/24 \u2013 Sell to Open 2 PLTR 12\/20\/24 $78.00 C @ $1.65 (+$330)<\/strong><\/p>\n

12\/20\/24 \u2013 Expired 2 PLTR 12\/20\/24 $78.00 C \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong><\/p>\n

Profit +$330<\/strong> <\/span><\/h4>\n
\n

Total Weekly Gain +$4103<\/strong><\/h2>\n
\n

I am very happy with this week but I’m worried about the position I still hold. Let’s watch to see how this coming week turns out. This week is the last full week of 2024.<\/p>\n

 <\/p>\n

Successful trading,<\/p>\n

Steve<\/p>\n

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

I had a great beginning of the week but the market did not end the week so well. The Fed Chair, Jerome Powell announced that there would be a .25 basis point reduction in the prime lending rate, which was good news, but he didn’t stop there. He felt compelled to talk about possible interest […]<\/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-14876","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-3RW","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/14876","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=14876"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/14876\/revisions"}],"predecessor-version":[{"id":14879,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/14876\/revisions\/14879"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}