On 11\/7\/17 I bought 1000 shares of SNAP at $14. This purchase was a result of me selling a $14 PUT. When I entered that Put order the stock was in the area of $15. At the time I didn’t know that SNAP’s earnings were do out in a few days. Well, after the earnings announcement SNAP dropped to $12.50 and I had the 1000 shares put to me at $14. At this point I’m down $1.50 per share. I decided to hold the stock and watch what happens. Between 11\/7, my purchase date, and today, the stock has been creeping up toward my purchase price. In fact, last week with the stock at $13.90 I sold a $14 Call and brought in a premium. The stock never went above my $14 Strike Price and I was not assigned, so I still own the 1000 shares.<\/p>\n
This morning SNAP received 2 upgrades from Barclays and Credit Suisse. The stock has been moving steady since the open. Last week I sold a Call because I wanted to get assigned, selling my stock, and using the money elsewhere. Today with the stock up to $14.60 on the upgrades, I entered a $14.50 “Stop Loss” sell order. The stock continued up to $14.85 and I adjusted my “Stop Loss” sell order to $14.75. The stock dropped off a little from $14.85 and I was executed on my “Stop Loss” order. I am out of SNAP!<\/p>\n
11\/7\/17 \u2013 Buy 1000 Shares SNAP @ $14.00<\/p>\n
12\/5\/17 \u2013 Sell 1000 Shares SNAP @ $14.75<\/p>\n
Profit +$750<\/strong><\/span><\/p>\n <\/p>\n I was in SNAP since 11\/7. Between 11\/7 and today I brought in a Put premium of $650, a Call premium of $150 and today I sold the stock with a profit of $750. The total gain is $1550 and my total investment was 1000 shares at $14 ($14,000). That is a Rate of Return of 11% for a 1 month position. I am very happy the way this ended. Especially since it started with having a $12.50 stock put to me at $14. I don’t know where SNAP goes from here but I’m happy with my return, and I’m happy I’m out of the position. I’m gonna do a little Christmas shopping on SNAP!<\/p>\n <\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" On 11\/7\/17 I bought 1000 shares of SNAP at $14. This purchase was a result of me selling a $14 PUT. When I entered that Put order the stock was in the area of $15. At the time I didn’t know that SNAP’s earnings were do out in a few days. Well, after the earnings […]<\/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-3816","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-Zy","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3816","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=3816"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3816\/revisions"}],"predecessor-version":[{"id":3817,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/3816\/revisions\/3817"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}