On 12\/21 I sold a 10 contract $52 Put on Snap. That position expired on 12\/24 with the stock at $50. The result was I had 1000 shares of Snap put to me at $52.<\/p>\n
Today Goldman Sachs gave Snap a great report with a price target of $70. As a result the stock is up $5 as I write. I’m not a big Snap fan, and I didn’t think the stock was gonna be put to me, now that I’m in and the stock’s up I just sold a 10 contract Call. I sold 10 1\/8\/21 $56 Calls. I received a premium of $1.10. I could have gone with a lower Strike Price for a bigger premium, but with this Goldman report I think the stock can move. I’m in the stock at $52 and I sold the $56 Call for $1.10. If the stock moves and I get assigned I make $4 ($4000) on the stock and the $1.10 ($1100) premium for $5100. If that happens this will be a great deal.<\/p>\n
Sell to Open 10 SNAP 1\/8\/21 $56.00 C @ $1.10 (+$1100)<\/strong><\/p>\n This trade get’s a Risk Factor 1<\/strong>.<\/p>\n Back on 11\/4 I bought 400 shares of Zoom at $508. I made a lot of money with ZM this year but the stock is way down from where I bought. My account is up big this year even with this stock down about $150 on me.<\/p>\n With the COVID vaccine in action the “stay at home” stocks are not doing as well. I want to make some of this ZM money back but not in this calendar year. With the stock at $358 I sold a 4 contract Call against my 400 shares. I sold 4 1\/8\/21 $380 Calls for a premium of $6 for $2400. This $2400 will go toward next year’s income.<\/p>\n Sell to Open 4 ZM 1\/8\/21 $380.00 C @ $6.00 (+$2400)<\/strong><\/p>\n This is a volatile stock, and I sold $380 Calls on a stock I bought at $508, so this trade comes with some risk. This trade get’s a Risk Factor 4.<\/p>\n This is not the only risk I’ll get from this trade. I will be selling these 400 shares before the end of the week leaving this Call Naked. I’m selling the shares before the end of the year for the huge write-off. I will be back in the stock to make up more of the loss. I hope I don’t have to get back it to cover this Call before the 1st week in January.<\/p>\n I believe I’ll get about a $60,000 write-off getting out of this position. This, in addition to the write-off I took with my Peloton trade, will give me big help on my taxes. We’ll talk more about that in April.<\/p>\n To get these write-offs, and still be up well over 220% on the year, is fantastic.<\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" On 12\/21 I sold a 10 contract $52 Put on Snap. That position expired on 12\/24 with the stock at $50. The result was I had 1000 shares of Snap put to me at $52. Today Goldman Sachs gave Snap a great report with a price target of $70. As a result the stock is […]<\/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-9699","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P75MP0-2wr","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/9699","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=9699"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/9699\/revisions"}],"predecessor-version":[{"id":9700,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/pages\/9699\/revisions\/9700"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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