{"id":3047,"date":"2017-04-23T11:15:31","date_gmt":"2017-04-23T15:15:31","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=3047"},"modified":"2017-04-23T11:15:31","modified_gmt":"2017-04-23T15:15:31","slug":"results-week-ending-42117","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=3047","title":{"rendered":"Results Week Ending 4\/21\/17"},"content":{"rendered":"

As you probably noticed my trades have been very limited the last few weeks. A few of my positions are moving against me and I’m patiently waiting for them to get to the point where I can make a trade without putting them at risk. For example, my U.S. Steel (X) and AK Steel (AKS) shares are lower than where I bought in, so I don’t want to sell Calls. If I sell Calls with a Strike Price where I bought in, I wouldn’t get much of a premium because they are too far Out-of-the-Money<\/a><\/span>. And if I go with a lower Strike Price I’m at risk of losing my stock at a price lower than where I bought. The steel stocks have been moving up this week so I hope to be in business again this week. This can be an interesting week! Both X and AKS announce first quarter’s earnings this Tuesday. AKS before the market opens and X after the close. This will cause some movement. I don’t like to be involved in stock with big news coming out but I’ve been in these stocks and I can’t get out now.<\/p>\n

This week I did had 2 trades come to a conclusion. 1 with Micron (MU) and 1 with Yelp (YELP).<\/p>\n

You can read my post on the MU trade at Micron Calls Sold<\/a><\/span>. I put in an order to sell 20 contracts but only got executed on 8 of them. With a premium go 35\u00a2 I was going for a total premium of $700 but because I only sold 8 contracts I ended up with a premium of $280. The stock closed below my Strike Price and my Calls expired. I keep the $280. Here’s the orders:<\/p>\n

Sell to Open 8 MU 4\/21\/17 $27.50 C @ 35\u00a2 (+280)<\/strong><\/p>\n

Expired 8 MU 4\/21\/17 $27.50 C\u00a0<\/strong><\/p>\n

Profit $280<\/strong><\/p>\n

Not a lot but the way things have been going, I’ll take it and put it in my mattress.<\/p>\n

\n

The 2nd trade was with YELP. This trade didn’t work out as will. YELP has been moving down and I was hoping I could get 1 more week of this down trend. It wasn’t to be. As soon as I sold the Naked Calls the stock reversed and started up. And has been moving up ever since. I sold 20 contracts. You can read about it at Sell Yelp Calls<\/a><\/span>. I sold the 20 one week Calls for 35\u00a2 for a premium of $700. When I sold the Calls the stock was at $31.80. I had a Strike Price of $32.50. The stock only moved up and closed on Friday at $33.49, $1 In-the-Money<\/a><\/span>. When you’re in this situation you have a few choices. #1, I could have my broker deliver the stock for the $32.50 and I’d be Short 2000 shares of the stock. #2, I could do a Roll-Out<\/a><\/span> and hope the stock moves in your favor next week. I’ve had much success with this strategy. #3, I could “Buy to Close,” take the lose, and move on.<\/p>\n

A little before the close I was contemplating what to do and I decided to go with #3. I was able to get out for 90\u00a2. I decided to pay the 90\u00a2 ($1800), take the lose and move on. I really wanted to free up some margin money for next week. Sometimes I’d rather take a small loss than drag the position on for a small profit. I don’t like to take a loss, especially when it messes with my “2017 Challenge.” I had a few weeks where I didn’t bring in my $3000 and this will be one of them. Not only did I not bring in positive cash but this week I’m taking a loss. O well, shit happens! I’ll try to make up for it in the coming weeks.<\/p>\n

On Friday I didn’t get to post my “Buy to Close.” After the market closed I had to run out for an appointment I was late for.<\/p>\n

Here’s the “Sell to Open” and the “Buy to Close” for the losing YELP trade:<\/p>\n

Sell to Open 20 YELP 4\/21\/17 $32.50 C @ 35\u00a2 (+$700)<\/strong><\/p>\n

Buy to Close 20 YELP 4\/21\/17 $32.50 C @ 90\u00a2 (-$1800)<\/strong><\/p>\n

Loss -$1100<\/strong><\/p>\n

\n

Let’s watch the results of the U.S. Steel’s and AK Steel’s 1st quarter this Tuesday. I have a lot riding on the reports.<\/p>\n

\n

With the small Micron gain and the YELP loss<\/p>\n

Total Weekly loss -820<\/h4>\n

 <\/p>\n

Email me any questions. Have a great weekend!<\/p>\n

 <\/p>\n

Steve<\/p>\n

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

As you probably noticed my trades have been very limited the last few weeks. A few of my positions are moving against me and I’m patiently waiting for them to get to the point where I can make a trade without putting them at risk. For example, my U.S. Steel (X) and AK Steel (AKS) […]<\/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-3047","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-N9","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3047","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=3047"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3047\/revisions"}],"predecessor-version":[{"id":3048,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3047\/revisions\/3048"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}