As you know I had a low profit projection on this week. But again, as 2 weeks ago, I was able to lock is some nice profit late in the week. I really thought I would close out the week with no trades coming to a conclusion, however, I did “Buy to Close” 2 positions with Gopro (GPRO) and I was able to put $5650 into my mattress. Both of these trades I made as a result of GPRO taking a dip after their earnings reports. Both trades involved GPRO and both were made on Friday. Let’s take a look at the 2 trades.<\/p>\n
GPRO<\/strong><\/span><\/p>\n The first “Buy to Close” trade was on a 1 day trade. On Thursday 11\/3 I sold a 100 contract Call on 10,000 shares I owned. Thursday with the earnings report coming out after the close I sold this Call on the 10,000 shares for a little insurance in the case the stock went down after the report. On the 100 contracts I sold the 1\/20\/17 $17 Call and received a premium of $.30 for $3000. On Friday the stock went down on the earnings and the premium went to $.10. I sold for $.30 and I bought the Call back for $.10 for a $.20 profit. This was a fantastic 1 day trade. Here’s the Sell and buy orders:<\/p>\n 11\/3\/16 – Sell to Open 100 GPRO 1\/20\/17 $17 C @ $.30 (+$3000)<\/strong><\/p>\n 11\/4\/16 – Buy to Close 100 GPRO 1\/20\/17 $17 C @ $.10 (-$1000)\u00a0<\/strong><\/p>\n Profit +$2000<\/strong><\/p>\n \n For my 2nd trade, I entered with the selling of a 50 contract Call way back on 7\/15. I sold the 50 contract Call which had the same expiration date as the Call above and I received a premium of $1.03. This Call had the Strike Price of $15. On the 50 contracts (5000 shares) the total premium was $5150. With the stock down and 78 days to expiration the premium was down to $.30. I decided to close out this position for the $.30 premium and locked in the profit of $.73. On the 5000 shares that’s $3650. Here’s the sell and buy orders:<\/p>\n