{"id":2287,"date":"2016-10-15T18:50:41","date_gmt":"2016-10-15T22:50:41","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=2287"},"modified":"2016-10-15T18:50:41","modified_gmt":"2016-10-15T22:50:41","slug":"results-week-ending-101416","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=2287","title":{"rendered":"Results Week Ending 10\/14\/16"},"content":{"rendered":"

The last few weeks the market has been quite volatile. I’m holding a lot of stock, probably the most since posting on Main Street beats Wall Street<\/strong>, and my holdings haven’t handled the market moves as I would have liked. Lucky for me, my selling Calls for hedging worked pretty nicely, especially my Triple Play Hedge. My stocks are down from where I bought but my Calls brought in some hefty premiums. This week alone my weekly gain was $14,900. This was from premiums alone. Last week my weekly gain was $3250 and the week before that was $7860. While the market was volatile and my stocks were going down I locked in a total of $26,010. This is great, but my account, at the moment, doesn’t reflect this success because the stocks are down from where I bought. However, when the stock rebound and go above where I bought, my account will skyrocket. Here are the stocks I’m holding. On 9\/2 I bought 10,000 shares of U.S. Steel, 9\/26 10,000 shares of Gopro, 10\/3 5000 shares of Micron and on 10\/11 5000 shares of Yelp. When these stocks go up a little I’ll really enjoy the $26,010 I pocketed in the last few weeks.<\/p>\n

This weeks gain was not only positions I entered this week. Some of them I’ve been in a week or 2. I have a lot to cover so let’s get to it. All the options that expired this week or the ones I bought my way out of, involve the stocks I mentioned above. I’ll go over one at a time.<\/p>\n

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

On 9\/21 I sold a 100 contract Naked LEAP on U.S. Steel (X) expiring on 1\/20\/17. I sold this Call for a premium of $1.20 which brought in a total premium of $12,000. With the stock down a few points and still 100 days till expiration, I examined my situation. With the premium down to $.75 I was able to “Buy to Close” the position for $7500. This gave me a profit of $4500 in 3 weeks. I was holding a lot of positions this week and sometimes I just like to clean house a little. Besides that it was a great profit to grab and get out of a Naked Call. Plus I’m holding a lot of stock and this freed up a lot of margin money. I’m not happy that X is down from where I bought but it is a nice profit. I also Have a 100 contract Covered Call expiring in November. This Naked Call gave me some nice hedging and it worked great.<\/p>\n

Profit +$4500<\/strong><\/p>\n

\n

Gopro<\/strong><\/span><\/p>\n

9\/22 I sold 50 Naked contracts of Gopro (GPRO) expiring this Friday 10\/14. This gave me a premium of $.50 for $2500. This started as a Triple Play Hedge and this was the second leg. The first leg expired last Friday and I was assigned. With the stock moving up on 9\/26 I decided to buy the stock and cover the second and third legs. At this point it was no longer a Triple Play Hedge, it was just Covered Calls. This 50 contract Covered Call expired Friday and I keep the $2500. After I bought the stock it started going down so I didn’t get assigned. I would have been better off staying Naked. Hindsight is always 20\/20.<\/p>\n

Profit +$2500<\/strong><\/p>\n

\n

Gopro<\/strong><\/span><\/p>\n

The last of the GPRO 50 contract Calls also expired. I had two 50 contract $17 Calls. This one and the one above. This one I received a premium of $.40 for $2000. With the stock going down this one also expired and this premium is also in my mattress.<\/p>\n

Profit +$2000<\/strong><\/p>\n

\n

Micron Technology<\/strong><\/span><\/p>\n

On 10\/3 Bought 5000 shares of Micron (MU) and did a Triple Play Hedge<\/a><\/span>. The first leg expired last week. It was a 50 contract $18.50 Covered Call which brought in $.35 for $1750. This week I had two 50 contract Calls expiring. One was a $19 Call for a premium of $.30 for $1500 and the other was a $19.50 Call for the premium of $.22 for $1100. Below is the entire Triple Play.<\/p>\n

Triple Play Hedge<\/strong><\/p>\n

10\/3\/16 \u2013 Buy 5000 shares MU @ $17.78<\/p>\n

\u00a0 Sell to Open 50 MU 10\/7\/16 $18.50 C @ $.35 (+$1750) (Covered)<\/p>\n

\u00a0Sell to Open 50 MU 10\/14\/16 $19 C @ $.30 (+$1500) (Naked)<\/p>\n

\u00a0Sell to Open 50 MU 10\/14\/16 $19.50 C @ $.22 (+$1100) (Naked)<\/p>\n

The bottom two Call are the Calls that expired this Friday. One for $1500 and the other for $1100. The total Triple Play brought in $4350 in premiums. It worked like a charm. The only problem is the stock is down a little so I’m still holding it. If I never sold the Calls and only bought the stock, I’d still be holding the stock and I wouldn’t have the $4350. The profit for the two Calls expiring this week is $2600. The first Call expired last week.<\/p>\n

Profit +$2600<\/strong><\/p>\n

\n

Yelp<\/strong><\/span><\/p>\n

For the last position of the week I entered a 50 contract Naked Call on 10\/10. This was a $41 Call for the premium of $.66 (+$3300). The next day with YELP moving up I decided to Cover the Call. The Call expired but the stock never hit the Strike Price so I still own the shares. With the Call expiring I put the $3300 in my mattress.<\/p>\n

Profit +$3300<\/strong><\/p>\n

\n

It was a great week with many options being exited. If I was assigned on all my stock it would have been the best week of the year. I hope you can see why I like to get assigned on my stock and start new deals the next week. Now I’m holding stock lower than where I bought. I hope I’ll be able to sell some Call with decent premiums. If not I’ll have to wait for a little rebound. I cannot sell Calls with Strike Prices lower than where I bought. Let’s see what Monday brings.<\/p>\n

\n

Total Weekly Gain +$14,900<\/strong><\/h4>\n

 <\/p>\n

Have a great weekend!<\/p>\n

 <\/p>\n

Steve<\/p>\n

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

The last few weeks the market has been quite volatile. I’m holding a lot of stock, probably the most since posting on Main Street beats Wall Street, and my holdings haven’t handled the market moves as I would have liked. Lucky for me, my selling Calls for hedging worked pretty nicely, especially my Triple Play […]<\/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-2287","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-AT","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2287","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=2287"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2287\/revisions"}],"predecessor-version":[{"id":2288,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2287\/revisions\/2288"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}