I’m writing this week’s report a little late this week. Now that I’m back coaching basketball, I had playoffs all weekend. It’s now Monday and I’m getting it done.<\/p>\n
All my trades involved U.S. Steel (X). I started the week with the same as the last 6 weeks. I have 10,000 shares of X that I carried over from 2016. Early in the week I sold (2) 50 contract Calls. 1 was a $36 Call and the other was a $37 Call. On Tuesday the stock took a dip. My $36 Call, which I brought in a premium of $2000 was selling for $500, up $1500. And my $37 Call was selling for $250, up $750. I made the decision to “Buy to Close” both of these Calls to lock in the profit with the hopes the very volatile stock would return back up so I could sell another Call before the week was out. Here are the 2 Calls “Sell to Open” and “Buy to Close” orders.<\/p>\n
Profit +$1500<\/strong><\/p>\n \n Profit +$750<\/strong><\/p>\n \n By Tuesday afternoon I had $2250 lock in my mattress. On Thursday with the stock taking a little dip I was able to sell another Call. This time I sold (1) 100 Call. I sold a $36 Call with the stock in the $35 area. This was a 2 day Call and I got a premium of 25\u00a2, which on the 100 contracts is a total premium of $2500. After I sold the Call the stock went wild and on Friday I was assigned on my 10,000 shares. Here’s the orders.<\/p>\n Profit +$2500<\/strong><\/p>\n While I had the Short Call<\/a><\/span> in place the stock went up big and closed at @37.60. This left me with a large Opportunity Lost<\/a><\/span>. Most of the readers know how I feel about an Opportunity Lost. For you new readers, I don’t care about it! If I made money I’m happy. I take my profit and move on. I’m in the business of collecting premiums and in the case of Covered Calls, I enjoy making a little on the stock. The bottom line is it’s very hard to consistently make money in this game with a disciplined game plan. I cannot second guess if I should have sold a Call or not because that my game plan to make money. Please read my page on Opportunity Lost<\/a><\/span>.<\/p>\n I bought these 10,000 shares on 12\/22\/16 for $35.73. I was assigned on all the shares at $36. I made another 27\u00a2 on the sale of the stock. That’s $2700 on the 10,000 shares. I know if I never sold the Call I would have made a lot more on the stock but this week alone I brought in $4750 in premiums alone plus the $2700 on the stock sale. A total of $7450, I’m Happy! Here’s the stock buy and sell orders:<\/p>\n Profit +$2700<\/strong><\/p>\n \n <\/p>\n It is a little before the Monday opening and U.S. Steel is up big. I have a 50 contract $39.50 Call sold so I’ll have to watch it closely because it’s a Naked Call. The way the stock’s moving I will probably have to cover this Call.<\/p>\n Market’s almost ready to open!<\/p>\n <\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" I’m writing this week’s report a little late this week. Now that I’m back coaching basketball, I had playoffs all weekend. It’s now Monday and I’m getting it done. All my trades involved U.S. Steel (X). I started the week with the same as the last 6 weeks. I have 10,000 shares of X that […]<\/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-2671","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-H5","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2671","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=2671"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2671\/revisions"}],"predecessor-version":[{"id":2672,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2671\/revisions\/2672"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Sell to Open 50 X 2\/10\/17\/ $37 C @ 20\u00a2 (+$1000)<\/h4>\n
Buy to Close 50 X 2\/10\/17 $37 C @ 5\u00a2 (-$250)<\/h4>\n
Sell to Open 100 X 2\/10\/17 $36 C @ 25\u00a2 (+$2500)<\/h4>\n
Expired – 100 X 2\/10\/17 $36 C<\/h4>\n
12\/22\/16 – Buy 10,000 shares X @ $35.73<\/h4>\n
2\/10\/17 – Assigned 10,000 shares X @ $36<\/h4>\n
Total Weekly Gain +$7450<\/h4>\n