If you read my Results Week Ending 5\/8\/20 you know I’m very concerned with this market. I mentioned I was gonna start dumping some of my LEAPS positions. I want to get back to selling my Calls, mainly Naked, and try to stay away from Long positions for a while. I will have some Long Positions but I’m not gonna start stacking them up yet. I cannot see this market continue to fly like it’s been. If I’m wrong I’ll make my money the way I know best, Selling Calls.<\/p>\n
Today I decided to lock in some profit. It might have been the best Monday of taking profit ever. I started with getting out of a Twitter (TWTR) position. Then I sold LEAPS positions with PENN (2 Contracts), NVDA (1 contract) and RH (1 contract). These was small positions that gave me big profits. Check out the profit I took on these LEAPS that I held short term. I love the power of LEAPS! I just don’t trust this market.<\/p>\n
5\/8\/20 – Sell to Open 10 TWTR 5\/15\/20 $29.50 C @ $1.03 ($1030)<\/strong><\/p>\n 5\/11\/20 – Buy to Close 10 TWTR $29.50 C @ 73\u00a2 (-$730)\u00a0<\/strong><\/p>\n 4\/2\/20 \u2013 Buy to Open 2 PENN 1\/21\/22 $10.00 C @ $5.40<\/strong><\/p>\n 5\/11\/20 – Sell to Close 2 PENN 1\/21\/22 $10.00 C @ $12.00\u00a0<\/strong><\/p>\n 4\/21\/20 \u2013 Buy to Open 1 NVDA 1\/21\/22 $270.00 C @ $68.00<\/strong><\/p>\n 5\/11\/20 – Sell to Close 1 NVDA 1\/21\/22 $270.00 C @ $100.00<\/strong><\/p>\n 4\/22\/20 \u2013 Buy to Open 1 RH 1\/21\/22 $125.00 C @ $47.00<\/strong><\/p>\n 5\/11\/20 – Sell to Close 1 RH 1\/21\/22 $125.00 C @ $73.00\u00a0<\/strong><\/p>\n Along with these moves I sold a 10 Micron (MU) Call for a $500 premium. This will expire Friday. Hopefully I won’t have to cover.<\/p>\n 5\/11\/20 – Sell to Open 10 MU 5\/15\/20 $50.00 C @ 50\u00a2 (+$500)<\/strong><\/p>\n I would say these small LEAPS worked out nicely. This is a great way to start off a week, locking in $8500.<\/p>\n From here the market can go up or it can go down, this $8500 is locked in! And it’s only Monday!<\/p>\n Successful Trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" If you read my Results Week Ending 5\/8\/20 you know I’m very concerned with this market. I mentioned I was gonna start dumping some of my LEAPS positions. I want to get back to selling my Calls, mainly Naked, and try to stay away from Long positions for a while. I will have some Long […]<\/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-7628","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-1Z2","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/7628","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=7628"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/7628\/revisions"}],"predecessor-version":[{"id":7630,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/7628\/revisions\/7630"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u00a0Profit +$300<\/strong><\/span><\/h4>\n
\nProfit +$2400<\/strong><\/span><\/h4>\n
\n\u00a0 Profit +$3200<\/strong><\/span><\/h4>\n
\n\u00a0Profit +$2600<\/strong><\/span><\/h4>\n
\n