This market continues to move up, and even on days it doesn’t, it’s still been good for my positions. I didn’t have as many trades this week as last but I still had a great week. Let’s get into my trades that either expired or I exited early.<\/p>\n
<\/p>\n
RH<\/strong><\/span><\/p>\n My first trade of the week was on Tuesday the 10th. I bought 2000 shares of RH at $75.08. On Wed the 11th I sold 20 contracts of the 10\/13\/17 $76.50 Calls. I received a $1 premium for a total of $2000. The stock made a move up and when it was at $77.35 I decided to exit half my position, which was selling 1000 shares and doing a “Buy to Close” on 10 contracts. With the stock at $77.35 I wanted to get the higher price for the stock. If held to expiration I would be assigned at $76.50. The down side is I had to do a “Buy to Close” to get out of my obligation of delivering the stock. The “Buy to Close” cost my $1.65 for $1650. I only brought in $1 ($1000) on the premium so I lost $650. I made more money on the stock sale but lost money on the option.<\/p>\n Closing out RH Covered Call with a Profit<\/strong><\/p>\n 10\/10\/17 \u2013 Buy 1000 Shares RH @ $75.08<\/p>\n 10\/11\/17 \u2013 Sell 1000 Shares RH @ $77.35<\/p>\n Profit +$2270<\/strong><\/span><\/p>\n 10\/10\/17 \u2013 Sell to Open 10 RH 10\/13\/17 $76.50 C @ $1.00 ($1000)<\/p>\n 10\/11\/13 \u2013 Buy to Close 10 RH 10\/13\/17 $76.50 C @ $1.65 (-$1650)<\/p>\n Loss -$650<\/strong><\/span><\/p>\n <\/p>\n On the other 1000 share Covered Call I held till expiration. That worked out better. However, the money I had available from getting out of the 1000 shares and the option I invested into another position, I bought 1000 shares of SNAP. Here’s the 10 contracts I held until expiration on RH.<\/p>\n 10\/10\/17 \u2013 Buy 1000 Shares RH @ $75.08<\/p>\n 10\/13\/17 \u2013 Assigned 1000 Shares RH @ $76.50<\/p>\n Profit +$1420<\/strong><\/span><\/p>\n 10\/10\/17 \u2013 Sell to Open 10 10\/13\/17 $76.50 C @ 1.00 ($1000)<\/p>\n 10\/13\/17 \u2013 Expired 10 RH 10\/13\/17 $76.50 C<\/p>\n Profit +1000<\/strong><\/span><\/p>\n <\/p>\n As you see, the 10 contracts I held until expiration I made $2420 and the 10 contracts I exited early I made $1620, a difference of $800. From the original trade I made a total of $4040 and I could have made $4840. Most of the time I like to get assigned and with the stock moving so well I was nervous it was going to take a big dip so I exited half the position. With the money I bought 1000 shares of SNAP and if you see below I ended up making $1450 on that trade. So, I ended up making an extra $650 because I exited the RH trade enabling me to make the $1450.<\/p>\n SNAP<\/strong><\/span><\/p>\n 10\/11\/17 \u2013 Buy 1000 Shares SNAP @ $14.75<\/p>\n 10\/12\/17 \u2013 Sell 1000 Shares SNAP @ $16.20<\/p>\n Profit +$1450<\/strong><\/span><\/p>\n <\/p>\n If there is any question on this weeks trades or strategy, send me an email.<\/p>\n <\/p>\n <\/p>\n Let’s see how long we can keep this type of weekly gains coming in. Have a great weekend!<\/p>\n <\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" This market continues to move up, and even on days it doesn’t, it’s still been good for my positions. I didn’t have as many trades this week as last but I still had a great week. Let’s get into my trades that either expired or I exited early. RH My first trade of the […]<\/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-3684","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-Xq","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3684","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=3684"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3684\/revisions"}],"predecessor-version":[{"id":3685,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3684\/revisions\/3685"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Total Gain +$1620<\/strong><\/span><\/h4>\n
Total Gain +$2420<\/span><\/h4>\n
Total Weekly Gain +$5490<\/h4>\n