This week was a great week, but I didn’t lock in as much as in past weeks. However, my account went up more this week. Thanks to my premiums and my Apple LEAPS.<\/p>\n
Apple announced a 4:1 stock split which will also be for my LEAPS. The stock will split 8\/31\/20 and I own my LEAPS into 2022. I think Apple will move up into the split. If it splits into the $120 area I think it will be back up to the $200 area by mid 2021. If this happens my LEAPS will make me a lot of money.<\/p>\n
The reason I like this week is I was assigned on 2000 shares of PTON, 100 shares of NVDA and 1000 shares of PINS. I have a ton of money in my margin buying power for this week. I’m excited about Monday morning.<\/p>\n
Let’s take a look at my trades of the week, both assigned and not.<\/p>\n
Peloton<\/strong><\/p>\n I bought these shares and did a PTON Covered Call. On Friday the stock was In-the-Money but I felt the stock was gonna go down. I took a big chance and sold the 2000 shares and left my 20 contract Covered Call naked. I locked in $1700 on the stock sale. The stock went down as I predicted and I bought the 2000 shares back to cover the Call. It was a very dangerous, ballsy move but it worked out for me.<\/p>\n 7\/13\/20 \u2013 Buy 2000 Shares PTON @ $65.90<\/strong><\/p>\n 7\/31\/20 \u2013 Sell 2000 Shares PTON @ $66.75 <\/strong><\/p>\n Peloton – Assigned Covered Call<\/strong><\/p>\n After I sold the 2000 shares and locked in the $1700 profit the stock came down and I bought the 2000 shares again to cover this Call. I bought the shares At-the-Money so I didn’t make more on the stock assignment but I keep the very nice $2400 premium.<\/p>\n 7\/31\/20 \u2013 Buy 2000 Shares PTON @ $66.00<\/strong><\/p>\n 7\/31\/20 \u2013 Assigned 2000 Shares PTON @ $66.00 <\/strong><\/p>\n 7\/28\/20 \u2013 Sell to Open 20 PTON 7\/31\/20 $66.00 C @ $1.20 (+$2400)<\/strong><\/p>\n 7\/31\/20 \u2013 Expired 20 PTON 7\/31\/20 $66.00 C<\/strong><\/p>\n Nvidia – Assigned Covered Call<\/strong><\/p>\n The stock closed at $424.59 and I had a $410 Strike Price so I had a pretty big Opportunity Lost.<\/p>\n 7\/24\/20 \u2013 Buy 100 Shares NVDA @ $407.60<\/strong><\/p>\n 7\/31\/20 \u2013 Assigned 100 Shares NVDA @ $410.00 <\/strong><\/p>\n 7\/27\/20 \u2013 Sell to Open 1 NVDA 7\/31\/20 $410.00 C @ $11.00 (+$1100<\/strong><\/p>\n 7\/31\/20 \u2013 Expired 1 NVDA 7\/31\/20 $410.00 C <\/strong><\/p>\n Micron<\/strong><\/p>\n This is the 5th week in a row I sold a Call on these shares. I’ve been bringing in some very nice premiums. I hope I get another Call sold this week.<\/p>\n 7\/27\/20 \u2013 Sell to Open 10 MU 7\/31\/20 $52.00 C @ 75\u00a2 (+$750)<\/strong><\/p>\n 7\/31\/20 \u2013 Expired 10 MU 7\/31\/20 $52.00 C <\/strong><\/p>\n Draftkings<\/strong><\/p>\n I’m in these shares at $38.10. This isn’t much of a premium but it’s only 5 contracts. The premium is actually a little over 1% so it fits into my “1 Week\/1%” Strategy. I’m happy with a 1 % weekly return. In fact, it’s what I look for.<\/p>\n 7\/28\/20 \u2013 Sell to Open 5 DKNG 7\/31\/20 $37.00 C @ 40\u00a2 (+$200)<\/strong><\/p>\n 7\/31\/20 \u2013 Expired 5 DKNG 7\/31\/20 $37.00 C <\/strong><\/p>\n Pinterest – Assigned Covered Call\u00a0<\/strong><\/p>\n Pinterest (PINS) came out with great earnings so I made this At-the-Money trade with 2 hours left to the trading week on Friday afternoon. It worked out nicely and I made $500 in 2 hours. A nice way to end the week.<\/p>\n 7\/31\/20 \u2013 Buy 1000 Shares PINS @$33.00<\/strong><\/p>\n 7\/31\/20 \u2013 Assigned 1000 Shares PINS @ $33.00 <\/strong><\/p>\n 7\/31\/20 \u2013 Sell to Open 10 PINS 7\/31\/20 $33.00 C @ 50\u00a2 (+$500)<\/strong><\/p>\n 7\/31\/20 \u2013 Expired 10 PINS 7\/31\/20 $33.00 C <\/strong><\/p>\n Keep studying! My account is growing. I start August with my account up 52% YTD. Because of COVID-19 my yearly goal is set at 65%. I think if I start making very low risk trades I can hit that easy. Remember, I was up 12 percent in February, then went down 35% by the end of March. I was down 35% YTD and now up 52% YTD. That is over an 85% swing.<\/p>\n To start the week I have a lot in my margin buying power, I’m gonna try to be very careful. For my goal I have 5 months to go up 13%.<\/p>\n Enjoy the rest of the weekend.<\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" This week was a great week, but I didn’t lock in as much as in past weeks. However, my account went up more this week. Thanks to my premiums and my Apple LEAPS. Apple announced a 4:1 stock split which will also be for my LEAPS. The stock will split 8\/31\/20 and I own my […]<\/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-8295","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-29N","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/8295","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=8295"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/8295\/revisions"}],"predecessor-version":[{"id":8297,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/8295\/revisions\/8297"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Profit +$1700<\/strong><\/span><\/h4>\n
\nProfit 0<\/strong><\/span><\/h4>\n
Profit +$2400<\/strong><\/span><\/h4>\n
\nProfit +$240<\/strong><\/span><\/h4>\n
Profit +$1100<\/strong><\/span><\/h4>\n
\nProfit +$750<\/strong><\/span><\/h4>\n
\nProfit +$200<\/strong><\/span><\/h4>\n
\nProfit 0\u00a0<\/strong><\/span><\/h4>\n
Profit +$500<\/strong><\/span><\/h4>\n
\nTotal Weekly Gain +$6890<\/strong><\/h2>\n
\n