{"id":1642,"date":"2016-05-22T19:37:56","date_gmt":"2016-05-22T23:37:56","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=1642"},"modified":"2016-05-22T19:37:56","modified_gmt":"2016-05-22T23:37:56","slug":"report-week-ending-52016","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=1642","title":{"rendered":"Report Week Ending 5\/20\/16"},"content":{"rendered":"

I normally title the week ending post with the word “Results<\/span> Week Ending…..” but this week I titled my post “Report<\/span> Week Ending…..” The reason for this is I have no results for the week ending 5\/20\/16. I entered 2 trades this week but I did not exit any to give a result.<\/p>\n

As you have been reading in my past post, this is May! I really don’t like the way the market is moving and I’m not going to force a trade just for the blog. I think it would serve you better if I show discipline. Many stocks have been moving down and I don’t like the premiums. I’m going to sit and wait. But continue to look at “Main Street beats Wall Street<\/strong>” everyday. I’ll try to write some lessons or I might even make some Paper Trades for learning purposes. Let’s see what this week brings.<\/p>\n

I am holding a few stocks and looking for nice premiums before I sell Calls on them. Below is a list of my holdings.<\/p>\n

 <\/p>\n

2000 shares GPRO<\/strong><\/span><\/p>\n

I’ve been holding 2000 shares on GPRO and have been selling Calls. At the moment I’m looking for a decent premium but there hasn’t been any. The stock has been falling and if there’s no volatility the premiums will be low. Volatility is caused when a stock moves up and down and GPRO has only been moving down. I’m going to have to sit and wait!<\/p>\n

\n

2000 shares FB<\/strong><\/span><\/p>\n

I’m holding 2000 shares of Facebook. I have 1000 at $113 and 1000 at $119.90. I have also been selling Calls on these shares and looking for a nice premium, hopefully tomorrow. I could sell the shares now and make a profit but I like FB and I’m looking to sell the $120 Calls. Let’s see what happens tomorrow.<\/p>\n

\n

5000 shares U.S. Steel<\/strong><\/span><\/p>\n

I own 5000 shares of X and this week I sold a Call. I sold 50 contracts of the 7\/15\/16 $15 Calls. I brought in a premium of $4500. I have about 7 weeks until expiration. This is a Covered Call. If the stock doesn’t get to the Strike Price of $15 I’ll keep the stock and keep the $4500 premium. I’ll be watching closely.<\/p>\n

\n

10 Naked Calls on YELP<\/strong><\/span><\/p>\n

This week on Thursday I noticed a “Raising Wedge<\/a><\/span>” pattern on the YELP candlestick chart. If you want to read a little about a Raising Wedge hit the link. I have an explanation using U.S. Steel. I feel YELP is going down. Only time will tell. With the stock at $24.74 I sold the $25.50 \u00a0Naked Call expiring this coming Friday. I will also watch this closely this week. If the stock goes up against my prediction, I’ll make a decision to cover or not.<\/p>\n

\n

It’s early but right now the futures for the Monday opening are flat.<\/p>\n

\n

Any questions, please send me an email.<\/p>\n

\n

\n

Steve<\/p>\n

The Options Coach<\/em><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

I normally title the week ending post with the word “Results Week Ending…..” but this week I titled my post “Report Week Ending…..” The reason for this is I have no results for the week ending 5\/20\/16. I entered 2 trades this week but I did not exit any to give a result. As you […]<\/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-1642","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-qu","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1642","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=1642"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1642\/revisions"}],"predecessor-version":[{"id":1643,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1642\/revisions\/1643"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}