{"id":2111,"date":"2016-09-22T15:42:27","date_gmt":"2016-09-22T19:42:27","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=2111"},"modified":"2016-09-22T15:42:27","modified_gmt":"2016-09-22T19:42:27","slug":"executed-on-my-gpro-stop-loss","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=2111","title":{"rendered":"Executed on my GPRO Stop Loss"},"content":{"rendered":"

\"Risk5\"<\/a><\/p>\n

Earlier I put a Stop Loss on 10,000 shares of GPRO. I hope I did the right thing because I’m very nervous about this market. Many \u00a0“professionals” are talking about a big correction. With GPRO up $1.25 today and in the $16.25 area I decided to put a Stop Loss order on 10,000 shares. 5000 I bought on 9\/6\/16 at $14.40 and the other 5000 I bought today at $15.90. I put the Stop Loss at $16.10 just in case the stock started falling. I did the Stop Loss because I wasn’t going to be near my computer for a few hours. I just got to my computer and I see I was executed on the order. I have a great gain on my stock purchase but I am now left Naked on a $16 Call that is expiring tomorrow. And I have another $16 Call expiring next Friday. This is a very risky move! Especially since as I write GPRO is back up to $16.20. I am hoping the stock drops below $16 for the close tomorrow and my Call will expire and I’ll worry about next week’s Call after the weekend. Even though this is the sale of a stock with a profit, I give this trade a Risk Factor of 5. The trade isn’t a 5, the trade put me in a situation where the positions I still hold are now a Risk Factor 5. Here’s the buy and sell orders for the 2 sets of 5000 shares of GPRO.<\/p>\n

9\/6\/16 Buy 5000 shares of GPRO @ $14.40<\/strong><\/h4>\n

9\/22\/16 Sell 5000 shares GPRO @ $16.10<\/strong><\/h4>\n

Profit +$8500<\/strong><\/p>\n

\n

9\/22\/16 Buy 5000 shares GPRO @ $15.90<\/strong><\/h4>\n

9\/22\/16 Sell 5000 shares GPRO @ $ 16.10<\/strong><\/h4>\n

Profit +$1000<\/strong><\/p>\n

\n

The bottom line is, if GPRO drops tomorrow I look brilliant, and if GPRO continues to go up, I look like an idiot!<\/p>\n

Remember, my line in the sand is $16.10. Tomorrow if I have to buy back the shares to cover the expiring Call I would want to buy at $16.10 or lower. If I have to buy above $16.10 I’ll be cutting into the profit I made on the sale of the stock. I’m really not worried too much, I’ve been doing great so if I give a little back I think it was worth the gamble. As long as it’s only a “little.”<\/p>\n

\n

Steve<\/p>\n

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

Earlier I put a Stop Loss on 10,000 shares of GPRO. I hope I did the right thing because I’m very nervous about this market. Many \u00a0“professionals” are talking about a big correction. With GPRO up $1.25 today and in the $16.25 area I decided to put a Stop Loss order on 10,000 shares. 5000 […]<\/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-2111","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-y3","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2111","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=2111"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2111\/revisions"}],"predecessor-version":[{"id":2112,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2111\/revisions\/2112"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}