Last week I reported that my high school basketball team won the NYC Catholic High School Athletic Association “A” division semi-final playoff game. This win put us in the NYC A division city championship game. We played a very tough Fordham Prep team from the Bronx. We were winning most of the 1st half and went into halftime with it being a few point game. The 2nd half the lead went back and forth and we ended up losing in the final minute of the game. We lost by 4 points. Winning the NYC A division championship would have been very nice but it was a great season and I’m very proud of our team. Being in a very tough league, we went a lot further than most thought we would.<\/p>\n\n\n\n
Basketball is done and it’s time to make some money. Basketball is demanding, and if done right, eats up a lot of your time. I didn’t make any trades the entire season. On February 20th I did buy 1000 shares of CLF but got out of that position a week later at the same price I bought in.<\/p>\n\n\n\n
When basketball started I knew I wouldn’t be trading. With the money I had in my account I bought some stock that I thought would hold their own and make me some money while I wasn’t trading options. I bought 100 shares of a bunch of stocks and built a little mutual fund with the hope my account would go up while not trading. It worked pretty well for me. Among the stocks I own are 100 shares each of NFLX, APPL, MSFT, WMT, RH, MU, SQ, PYPL and 200 shares of FB, X and GE.<\/p>\n\n\n\n
Today I made my first options trade of the year. I was in and out of the trade in about an hour and make $300. I sold 10 Naked contracts of the Weight Watchers (WTW) $22.00 Calls for .85 (+$850). This Call was to expire this coming Friday. <\/p>\n\n\n\n
Sell to Open 10 WTW 3\/8\/19 $22.00 C @.85 (+$850)<\/p>\n\n\n\n
When I sold the Call the stock was about $22.25. The stock started down and after holding the position for 1 hour the stock came down to $21.75. When I sold the Call the premium was .85. When the stock dropped the premium dropped to .55. I decided to do a “Buy to Close” and get out of the position. I sold the 10 contract Call for .85 bringing in $850 and bought the Call back for .55, $550. This gave me a $300 profit in 1 hour. I’ll take that and put it in my mattress for the first time of the year. <\/p>\n\n\n\n
Buy to Close 10 WTW 3\/8\/19 $22.00 C @ .55 (-$550)<\/p>\n\n\n\n
Profit +$300<\/p>\n\n\n\n
It feels good to be back to the trading. Not sure how much I’ll be doing before I dump some go the stock I’m holding. The stocks I’m holding have been doing pretty well so I’ll watch and see. The more stock I sell the more money I have to trade options, and get back into the game I love.<\/p>\n\n\n\n
Email me any questions!<\/p>\n\n\n\n
Steve<\/p>\n\n\n\n
The Options Coach<\/em><\/p>\n\n\n\n <\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Last week I reported that my high school basketball team won the NYC Catholic High School Athletic Association “A” division semi-final playoff game. This win put us in the NYC A division city championship game. We played a very tough Fordham Prep team from the Bronx. We were winning most of the 1st half and […]<\/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-4650","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\/p75MP0-1d0","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/4650","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=4650"}],"version-history":[{"count":1,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/4650\/revisions"}],"predecessor-version":[{"id":4651,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/4650\/revisions\/4651"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}