Good morning Readers! I’m getting the week off to a quick start. Before I get into how, I would like to apologize for my last post which was “Results Week Ending 8\/26\/16.” I wrote that post late Friday evening and I think I was falling asleep lol. I do not consider myself a writer but that was bad. Toward the end of my post there was a few mistakes in sentence structure and words that didn’t make sense. I don’t know if it was spell check going into affect and changed words or I was actually sleeping lol. And I hit send without proof reading. Either way I did some editing on the post in my blog section. I can edit that, but once I send a post to emails obviously it cannot be edited.<\/p>\n
Let’s get back to more important things, trading. If you read my last few post you saw on Tuesday, August 23rd I sold a 100 contract $20 Put on U.S. Steel (X). This option brought in a premium of $2000. The option expired this past Friday and I was exercised. I keep the $2000 premium and I was put the 10,000 shares at $20. You can see this in my Trade History<\/a><\/span>. It will also be listed in my Active Trades<\/a><\/span> for about another week. I had the 10,000 shares put to me at $20, and on Friday the stock closed at $19.88. Not so bad! This morning the market is up. Of course I’m watching X very closely because 10,000 shares is a very large position. Early in the trading day the stock was moving between it’s open and up to the $20.20 area. I really don’t like owning that much stock so I put a sell order in at $20.30. About 10 minutes later the stock went above $20.30 briefly and I was executed on the sell order. I bought the stock at $20 as a result of my Put, and I just sold for $20.30. This is a $.30 gain on 10,000 shares for a profit of $3000. However, the entire one week deal from selling the Put brought in $5000. $2000 on the Put premium and $3000 on the sale of the stock. I wish it was always this easy! Here’s the stock sell order:<\/p>\n Profit +$3000<\/strong><\/p>\n \n This was a great deal but I still have a 100 contract $21 Naked Call on X until January. I’m just not ready to hold 10,000 for the life of that Call. I will be watching this Call very closely. Now I’d like to see X go down, at least stay below $21.<\/p>\n Any questions on this Put and result of the sale of the stock, send me an email.<\/p>\n \n Steve<\/p>\n The Options Coach\u00a0<\/em><\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Good morning Readers! I’m getting the week off to a quick start. Before I get into how, I would like to apologize for my last post which was “Results Week Ending 8\/26\/16.” I wrote that post late Friday evening and I think I was falling asleep lol. I do not consider myself a writer but […]<\/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-1997","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-wd","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1997","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=1997"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1997\/revisions"}],"predecessor-version":[{"id":1998,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/1997\/revisions\/1998"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Sell 10,000 shares X @ $20.30<\/strong><\/h4>\n