I just got back to my computer. My wife had surgery on Monday for a torn meniscus and today she started physical therapy. Before I brought her I put in 2 orders. I was executed on both. I’m sorry I wasn’t near my computer to report when they were executed but we must take care of family.<\/p>\n
This week I had 3 positions I was concerned with. All were reporting earnings this week. I had 5000 shares AK Steel (AKS), I had 1000 shares of Facebook (FB) and I had 50 contracts of Naked Calls on U.S. Steel (X). I’ll go over each position and what I did with them today.<\/p>\n
On 4\/21\/16 I bought 5000 shares of AKS to cover a Naked Call position. I had a $5 Call sold and I bought the stock at $4.95. This past Friday that Call expired and I was not assigned because the stock closed below $5 on Friday. I really wanted to get assigned so I didn’t have to hold the 5000 shares thru the earnings announcement. The stock stayed below the price I bought so I held on, hoping for a good report. The report was good but it didn’t move the stock too much. Today the stock was moving around a bit and I no longer want to hold the position. I’m still waiting for the steel industry to have a pull back plus AKS no longer has premiums I like after earnings. I put in an order to sell my 5000 shares with a limit order at $4.96. I put the order in at this price because I got in at $4.95 and I just wanted out, \u00a0I figured I’ll try and get $.01 out to pay for commissions. I was executed at $4.96 which is where the stock closed. I initially bought the stock to sell a Call. I sold the Call and brought in $1000 with the Call expiring this past Friday, plus the $.01 on the stock. This deal is over and it looks like I’ll be out of AKS for a while. I no longer like the premiums. Here’s the sell order:<\/p>\n
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I’ve been in and out of FB for a while now. Currently I own 1000 shares which I bought on 4\/5\/16. The stock had a bit of a pull back, so this week I didn’t get to sell a Call. I’m quite happy I didn’t! I love FB so when it was down this week I had no problem holding it thru earnings which were announced after the close today. I own 1000 shares with no Call attached to the stock and the earnings crushed the estimates. I bought the stock at $113 and after the close the stock is up $10. Tomorrow morning, if all stays the same, at the open my account will go up $10,000.<\/p>\n
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I have 50 contracts of the $18 Naked Calls expiring in June. Today X did not hit their number and the stock was down most of the day. When you have a Naked Call, this is a good thing. Today with the stock not looking like it will go up I sold another Naked Call. I sold 100 contracts of the $19 Call expiring this Friday. I brought is a premium of $.25 for a total of $2500. I now have 150 contracts of Naked Calls on X and I need the stock to go down. At least not go up to my $19 Strike Price by Friday. After the close the stock went up to $18.61. I have 2 days left. I will be watching very closely. If the stock gets up near the $19 area I’ll have to buy 10,000 shares to cover this Call. This trade is a Naked Call with the stock moving up; I’ll give this a Risk Factor<\/strong> of 5. This can be very dangerous. Here’s the sell order:<\/p>\n <\/p>\n <\/p>\n I would love to see FB go up another 10 points tomorrow. A few stocks had good earnings today, FB being the big one. I look for the market to go up tomorrow. I’ll have to watch U.S. Steel extra closely because of my Naked Calls.<\/p>\n <\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" I just got back to my computer. My wife had surgery on Monday for a torn meniscus and today she started physical therapy. Before I brought her I put in 2 orders. I was executed on both. I’m sorry I wasn’t near my computer to report when they were executed but we must take care […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-1513","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75MP0-op","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"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=1513"}],"version-history":[{"count":3,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1513\/revisions"}],"predecessor-version":[{"id":1517,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1513\/revisions\/1517"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Sell to Open 100 X 4\/29\/16 $19 C @ $.25 (+$2500)<\/strong><\/h4>\n