{"id":2836,"date":"2017-03-02T10:51:53","date_gmt":"2017-03-02T15:51:53","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=2836"},"modified":"2017-03-02T10:51:53","modified_gmt":"2017-03-02T15:51:53","slug":"out-of-my-u-s-steel-insurance-call","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=2836","title":{"rendered":"Out of My U.S. Steel “Insurance” Call"},"content":{"rendered":"

I sold a U.S. Steel (X) 50 contract 3\/10\/17 Naked Call on Tuesday for insurance on my 50 contract Covered Call. See “Sold More U.S. Steel Calls for Insurance<\/a><\/span>.”This Call gave me a premium of 70\u00a2 for a total premium of $3500. I only had the position 2 days. Today X is down a little and the premium for my Call was down to 35\u00a2. If I can get out of a position that I’ve been in a day or 2, with half my premium I signed up for, I like to exit to end the contract. When the premium was at 35\u00a2 I put in a “Buy to Close” order at 30\u00a2. A few minutes ago I was executed on that order. I brought in 70\u00a2 ($3500) and I paid 30\u00a2 ($1500) to buy my way out of the contract for a total profit of $2000. I love deals like this! Not bad for 2 days. Here’s the “Sell to Open” and “Buy to Close” orders:<\/p>\n

Sell to Open 50 X 3\/10\/17 $42.50 C @ 70\u00a2 (+$3500)<\/h4>\n

Buy to Close 50 X 3\/10\/17 $42.50 C @ 30\u00a2 (-$1500)<\/h4>\n

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

\n

If you look at my “2017 Challenge<\/a><\/span>,” my weekly goal is to make $3000 a week. Tomorrow is Friday, Expiration Day. I am on schedule to make the $3000, and then some! I really try to make the $3000 but I also try to stop after I have it made, plus a little more to cover my expenses. It’s trades like this one today that brings my weekly profit above what I’trying to do. This trade I entered to go toward next weeks goal but since I had an early exit it will be on this week’s profit.<\/p>\n

Some people think I nuts to try to limit myself at $3000 plus a little more for expenses, but I feel 3 grand a week is plenty and if I keep pushing for more, greed sets in. My plan is $3000+, and I try to stick to my plan. It’s very important to have a plan with goals and stick to it! Take a look at “My Philosophy & Strategy<\/a><\/span>” page.<\/p>\n

We had a bunch of new subscribers join the Main Street beats Wall Street<\/strong> family this week. I would like to welcome you and wish you luck. The truth is, you will give yourself luck by studying. There’s a lot of money to make but you must put in the time. I’m here for you if you have any questions. This site and my advice will always be FREE! I thrive on you!<\/p>\n

\n

Steve<\/p>\n

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

I sold a U.S. Steel (X) 50 contract 3\/10\/17 Naked Call on Tuesday for insurance on my 50 contract Covered Call. See “Sold More U.S. Steel Calls for Insurance.”This Call gave me a premium of 70\u00a2 for a total premium of $3500. I only had the position 2 days. Today X is down a little […]<\/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-2836","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-JK","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2836","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=2836"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2836\/revisions"}],"predecessor-version":[{"id":2837,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/2836\/revisions\/2837"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}