This ended up to be another very nice week. Not only was I assigned on 2000 shares of Peloton, but many of my holdings that were down, recovered.<\/p>\n
Getting assigned on the 2000 shares of Peloton, and my stocks moving up will give me a large margin account to start the week. However, I don’t think I’ll take advantage of it. I still have stocks I’m holding that are ready to have Calls sold against them. These are: Square, Apple and Nvidia. If Monday is a good day these stocks can bring me in some nice premiums. To help with next week’s income I already sold Covered Calls on PayPal and Micron. And I have a Naked Call sold on Peloton. With these 3 positions I brought in $7000 in premiums. That’s a good start to next week!<\/p>\n
The reason I say I’m not gonna take advantage of my available margin power is, I think I’ll make enough with the positions I’m holding. Also, I’m very\u00a0conscious of the upcoming election. I’m having such a great year I would like to be out of most positions going into the election. Remember, “Pigs Get Slaughtered.” With about 5 week to the election, as I get assigned on my positions, I would like to keep that cash on the sidelines for November 4th.<\/p>\n
Most readers know, because of my COVID-19 35% drop, my goal for the year was 65%. I’ll be writing about my year’s progress right after the election, but because of my success with the Apple and Tesla splits, I am well over 100% on the year. Over by a lot! I see no reason to try and figure how the election will affect the market. I’d be happy with my year if I didn’t make another trade until January. However, I am a trader, and I will be making more trades, but I see no reason to get greedy and play the craziest election in the history of this country. I feel many people in this country have completely lost their minds, and I don’t want to try to figure out how they will play the market. I will try to be out of as many of my positions as I can.<\/p>\n
Let’s take a look at the trades that gave me another good week.<\/p>\n
Pinterest<\/strong><\/p>\n I bought a 1 contract LEAPS on 8\/3\/20. I didn’t like the way it was moving, plus trying to get out of positions for the election, I sold for a $200 profit.<\/p>\n 8\/3\/20 \u2013 Buy to Open 1 PINS 1\/21\/22 $35.00 C @ $11.00<\/strong><\/p>\n 9\/22\/20 \u2013 Sell to Close 1 PINS 1\/21\/22 $35.00 C @ $2.00<\/strong><\/p>\n Petoton<\/strong><\/p>\n I sold a 10 contract Naked Call for a $1200 premium. An hour later the stock went down so I did a “Buy to Close” to cash in for a $600 profit.<\/p>\n 9\/23\/20 \u2013 Sell to Open 10 PTON 10\/2\/20 $114.00 C @ $1.20 (+$1200)<\/strong><\/p>\n 9\/23\/20 \u2013 Buy to Close 10 PTON 10\/2\/20 $114.00C @ 60\u00a2 (-$600) <\/strong><\/p>\n PayPal<\/strong><\/p>\n This was a 10 contract Covered Call where I was not assigned.<\/p>\n 9\/21\/20 \u2013 Sell to Open 10 PYPL 9\/25\/20 $190.00 C @ $1.20 (+$1200)<\/strong><\/p>\n 9\/25\/20 \u2013 Expired 10 PYPL 9\/25\/20 $190.00 C <\/strong><\/p>\n Square<\/strong><\/p>\n Another 10 contract Covered Call with no assignment.<\/p>\n 9\/22\/20 \u2013 Sell to Open 10 SQ 9\/25\/20 $165.00 @ 80\u00a2 (+$800)<\/strong><\/p>\n 9\/25\/20 \u2013 Expired 10 SQ 9\/25\/20 $165.00 C <\/strong><\/p>\n Micron<\/strong><\/p>\n Covered Call without assignment.<\/p>\n 9\/23\/20 \u2013 Sell to Open 10 MU 9\/25\/20 $52.00 C @ 50\u00a2 (+$500)<\/strong><\/p>\n 9\/25\/20 \u2013 Expired 10 MU 9\/25\/20 $52.00 C <\/strong><\/p>\nProfit +$200\u00a0<\/strong><\/span><\/h4>\n
\n\u00a0Profit +$600<\/strong><\/span><\/h4>\n
\nProfit +$1200<\/strong><\/span><\/h4>\n
\nProfit +$800<\/strong><\/span><\/h4>\n
\nProfit +$500<\/strong><\/span><\/h4>\n
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