{"id":2301,"date":"2016-10-19T15:34:02","date_gmt":"2016-10-19T19:34:02","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=2301"},"modified":"2016-10-19T15:34:02","modified_gmt":"2016-10-19T19:34:02","slug":"correction-with-my-gopro-position","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=2301","title":{"rendered":"Correction With My Gopro Position"},"content":{"rendered":"<p>On 10\/12\/16 I bought 1000 shares of Gopro (GPRO). These shares I bought at $14.47. Back on 7\/15\/16 I sold 50 contracts of a GPRO Naked Call LEAP with a Strike Price of $15. These Calls will expire on 1\/20\/17. On 10\/12\/16 it looked to me like GPRO was going to start moving up. With the stock at $14.47 and my Strike Price at $15, I decided to cover this Call. Here is where I made my mistake. With a 50 contract Call sold I only bought 1000 shares. I was thinking I only had a 10 contract Call sold. When I noticed this mistake I said to myself &#8220;I have to but 4000 more shares before the stock goes above the $15 Strike Price.&#8221; \u00a0With the stock moving up a little every day, today I decided to correct this mistake and buy the 4000 shares. These shares, in addition to the shares I bought on 10\/12\/16 gives me the 5000 shares needed to cover my 50 contract Call. I&#8217;m glad I spotted this mistake and I feel better now that I have a Covered Call on a stock getting close to my Strike Price. Here&#8217;s the buy order for the 4000 shares:<\/p>\n<h4 style=\"text-align: center;\"><strong>Buy 4000 shares GPRO @ $14.75\u00a0<\/strong><\/h4>\n<p>&nbsp;<\/p>\n<p>In my &#8220;<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"http:\/\/www.mainstbeatswallst.com\/?page_id=191\">Active Positions<\/a><\/span>&#8221; I have the 2 buy orders listed. 1 for 1000 shares at $14.47 and 1 for 4000 shares at $14.75. I have the 5000 shares at an average price of $14.69.<\/p>\n<p>&nbsp;<\/p>\n<p>I&#8217;m sorry for the confusion. I need to be more careful!<\/p>\n<p>&nbsp;<\/p>\n<p>Steve<\/p>\n<p><em>The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 10\/12\/16 I bought 1000 shares of Gopro (GPRO). These shares I bought at $14.47. Back on 7\/15\/16 I sold 50 contracts of a GPRO Naked Call LEAP with a Strike Price of $15. These Calls will expire on 1\/20\/17. On 10\/12\/16 it looked to me like GPRO was going to start moving up. With [&hellip;]<\/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-2301","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-B7","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2301","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=2301"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2301\/revisions"}],"predecessor-version":[{"id":2302,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2301\/revisions\/2302"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}