{"id":1942,"date":"2016-08-16T13:16:22","date_gmt":"2016-08-16T17:16:22","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=1942"},"modified":"2016-08-16T13:16:22","modified_gmt":"2016-08-16T17:16:22","slug":"sell-put-on-gpro","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=1942","title":{"rendered":"Sell Put on GPRO"},"content":{"rendered":"

\"Risk1\"<\/a><\/p>\n

If you follow my “Active Positions” you know I have a 50 contract Call sold on GPRO expiring in January. Yesterday I sold my 5000 shares of GoPro (GPRO). While I locked in a nice profit of $3300, it also put me in a situation where I was Naked on the 50 contract Call. I sold the stock, even though it put me in a dangerous position, because GPRO has been moving lately and I don’t trust it’s going to continue up without a pullback. I have a $15 Call which doesn’t expire until January, 20, 2017. There’s a lot of time left. I bought the stock at $15.09 and sold at $15.75. That’s a gain of $.66. On 5000 shares the profit is $3300. I am hoping the stock will drop to below my $15 Strike Price. If this happens, I buy the stock back, keep the profit on the stock sale and have a Covered Call again.<\/p>\n

I plan on buying the 5000 shares as soon as it drops below $15 so today I decided to bring in some premium while I wait for it to get below $15. I just got executed on a 50 contract, $14.50 Put expiring this Friday (4 days). I brought in a premium of $.15 for a total of $750 on 50 contracts. If the stock goes down to $14.50 I’ll have 5000 shares of GPRO put to me and I’ll have my Covered Call. If it doesn’t go down to $14.50 by Friday I keep the $750 premium and I’m in the same boat I’m in now. I planned on buying the shares if it goes below $15 so I might as well collect a premium while I wait for the drop, this is a “no brainer.” This is a very low risk trade! I give it a Risk Factor of 1.<\/p>\n

Here’s the sell order for the Put:<\/p>\n

Sell to Open 50 GPRO 8\/19\/16 $14.50 P @ $.15 (+$750)<\/strong><\/h4>\n

 <\/p>\n

I do not have coverage on Puts on this site yet but it’s coming soon. If you have any questions on this trade please send me an email.<\/p>\n

 <\/p>\n

Steve<\/p>\n

The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

If you follow my “Active Positions” you know I have a 50 contract Call sold on GPRO expiring in January. Yesterday I sold my 5000 shares of GoPro (GPRO). While I locked in a nice profit of $3300, it also put me in a situation where I was Naked on the 50 contract Call. I […]<\/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-1942","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-vk","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1942","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=1942"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1942\/revisions"}],"predecessor-version":[{"id":1943,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1942\/revisions\/1943"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}