Arrived in Costa Rica on Tuesday evening . Monday was a travel prep day. Tuesday was a travel day. Wednesday woke in San Jose, enjoyed a Tico (Local) breakfast at our hotel and had lunch and dinner while checking out the city. Thursday I was up early for another Tico breakfast before we left San Jose to go to the beach in Jaco. Before I left for the 1 and a half hour drive I was checking out the market. U.S. Steel (X) was up, as usual, but looked like it was hitting resistance. Being Thursday, only a day before and Expiration Day I really didn’t plan on making any trades. I ended up making a trade on Thursday and 2 more on Friday, Expiration Day. All trades worked out nicely and it ended up being a fantastic mattress stuffing week. Let’s take a look at the 3 trades.<\/p>\n
All trades with U.S. Steel (X)<\/strong><\/p>\n As I mentioned above my first trade was on Thursday and the position was to expire the next day, Friday. With X at $38.55 I sold 50 contracts of the $39 Calls and received a premium of $.60 for $3000. A great premium for a little over a day trade. As soon as I sold the Call the stock moved down a little. I had to leave the hotel to drive from San Jose to Jaco so I but a buy order for 5000 shares at $38.50. This was a “Buy Stop” order which means the buy will not be executed unless the stock gets up to the price I put on the buy order. The buy order was $38.50. If the stock never gets up to that price I will remain Naked on the Call. If the price goes above the $38.50 price I would be executed on the 5000 shares buy order to cover my Call. The stock got to $38.50 and the option expired so I keep the entire premium.<\/p>\n Profit +$3000<\/strong><\/p>\n On Friday, Expiration Day, I was sitting on my balcony in Jaco watching the market. X was moving down and it looked like my 50 contract Naked Call was well Out-of-the-Money and in no danger of being assigned. With the stock moving down and the option from the day before in the clear I decided to sell another Call. I sold a 50 contract $37.50 Call and received a premium of $.23 for $1150. The stock continued down and this Call looked like it was in the clear. This Call ended up staying Out-of-the-Money and expired. I get to put this premium in my mattress!<\/p>\n Profit +$1150<\/strong><\/p>\n With the stock below $36.50 and the 2 previous Call looking good I decided to sell 1 more Call. This time worried the stock could hit support, I did a “Buy-Write” which is a Covered Call where you buy the stock at the same time as you sell the Call. I bought 5000 shares of X for $36.35 and sold a 50 contract $36.50 Call for a premium of $.34 for $1700. The stock ended the day at $36.08 and this Call also expired so I keep the premium. I still own the stock at $36.35. Let’s see what Monday brings.<\/p>\n Profit +$1700<\/strong><\/p>\n It was a great last 2 days of the week. I was able to pocket $5850. Another week like that and I’ll have my vacation paid for while I’m here in Costa Rica.<\/p>\n Have a great weekend!<\/p>\n \n Steve<\/p>\n The Options Coach<\/em><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Arrived in Costa Rica on Tuesday evening . Monday was a travel prep day. Tuesday was a travel day. Wednesday woke in San Jose, enjoyed a Tico (Local) breakfast at our hotel and had lunch and dinner while checking out the city. Thursday I was up early for another Tico breakfast before we left San […]<\/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-2474","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-DU","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2474","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=2474"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2474\/revisions"}],"predecessor-version":[{"id":2478,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2474\/revisions\/2478"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Total Weekly Gain +$5850<\/h4>\n