This market just keeps chugging along. I don’t understand it, but it does. The stock prices are definitely not priced according to the fundamentals; I think it’s more that people are afraid to miss the boat. I think a lot of investors are looking at this market as a “get rick quick” scheme. This troubles me. Sooner or later the bottom is gonna fall out. I hope not! But the prices of some of these stock, I just don’t understand! I think we might be in for an awakening when the next earnings season rolls around. Like I said, I hope not! I hope the market continues up and everyone gets rich, but it just doesn’t make sense to me.<\/p>\n
I’m gonna continue doing what I’m doing, selling Calls. You might even see me do a few Naked Calls on certain stocks soon. I don’t want to get caught holding a lot of Long Positions if we do get a correction.<\/p>\n
I hope I’m a little inspiring and not sounding like a broken record, but I had another very nice week. I locked in another $6000. When I say “locked in” I mean the positions are closed and the money is in my mattress. This is not positions still open. I have some LEAPS that are doing well, but these are not a part of the weekly results. \u00a0Here are this week’s closed positions:<\/p>\n
Inseego<\/strong><\/p>\n This is a LEAPS position I closed. I love taking profit!<\/p>\n 1\/29\/20 \u2013 Buy to Open 10 INSG 1\/21\/22 $10.00 C @ $2.60<\/strong><\/p>\n 6\/1\/20 \u2013 Sell to Close 10 INSG 1\/21\/22 $10.00 C @ $4.70<\/strong><\/p>\n Draftkings<\/strong><\/p>\n This was a Covered Call but I was not assigned. I still own the 500 shares.<\/p>\n 6\/1\/20 \u2013 Sell to Open 5 DKNG 6\/5\/20 $45.00 C @ $2.10 (+$1050)<\/strong><\/p>\n 6\/5\/20 \u2013 Expired 5 DKNG 6\/5\/20 $45.00 C <\/strong><\/p>\n Peloton<\/strong><\/p>\n PTON traveled way above my Strike Price but dropped back down. I bought the stock at $45.42 and sold the $46 Call. The stock closed at $45.90. I should be able to get another Call sold on Monday for a nice premium. I’m holding 2000 shares.<\/p>\n 6\/1\/20 \u2013 Sell to Open 20 PTON 6\/5\/20 $46.00 C @ 50\u00a2 (+$1000)<\/strong><\/p>\n 6\/5\/20 \u2013 Expired 20 PTON 6\/5\/20 $46.00 C<\/strong><\/p>\n Occidental Petroleum \u2013 Covered Call<\/strong><\/p>\n This was a Covered Call where I was assigned. I bought the stock at $13.90 and sold the $14 Call. The stock took off! The stock close at $20.79. A bit of an Opportunity Lost<\/a><\/span>. No Problem! Can’t worry about it.<\/p>\n 5\/28\/20 \u2013 Buy 1000 Shares OXY @ $13.90\u00a0<\/strong><\/p>\n 6\/5\/20 \u2013 Assigned 1000 Shares OXY @ $14.00 <\/strong><\/p>\n 6\/1\/20 \u2013 Sell to Open 10 OXY 6\/5\/20 $14.00 C @ 30\u00a2 (+$300)<\/strong><\/p>\n 6\/5\/20 \u2013 Expired 10 OXY 6\/5\/20 $14.00 C<\/strong><\/p>\n Nvidia<\/strong><\/p>\n Bought the stock at $361. It really didn’t move normally this week, along with all the chip companies. The stock was down most of the week. I finally got a Call sold on Thursday. Percentage wise, not much of a premium, but the 1 day Call gave me $300. I’m happy! And I still own the stock for another Call this week.<\/p>\nProfit +$2100<\/strong><\/span><\/h4>\n
\nProfit +$1050<\/strong><\/span><\/h4>\n
\nProfit +$1000<\/strong><\/span><\/h4>\n
\nProfit +$100<\/strong><\/span><\/h4>\n
Profit +300<\/strong><\/span><\/h4>\n
\n