{"id":4760,"date":"2019-03-11T15:49:04","date_gmt":"2019-03-11T19:49:04","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=4760"},"modified":"2019-03-11T15:55:21","modified_gmt":"2019-03-11T19:55:21","slug":"results-week-ending-3-8-19","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=4760","title":{"rendered":"Results Week Ending 3\/8\/19"},"content":{"rendered":"

Hi All, it feels good to slowly get back into my research, my trading and catching up with Main Street beats Wall Street<\/strong>. This is my 1st week ending report in a long time. Let’s see what happened this week.<\/p>\n

I started the week off with my 1st trade on Monday. I sold a 10 contract Naked Call on Weights Watchers (WTW). This trade was a little dangerous because I sold the $22 Naked Call when the stock was at $22.25. I did this because, looking at the candlestick chart, it looked to me like the stock was gonna come down. And it did! I received an 85\u00a2 premium for $850 on 10 contracts. After holding for an hour the stock came down to where the premium was 55\u00a2 ($550). You must understand Short Positions<\/a><\/span> to understand how you make money with this situation. With a Short Position you sell something before you buy it. In this case I sold an option for $850 and bought back the position for $550 for a $300 profit. I love Naked Calls! and I love when they work to make money in a very short time. In this case 1 hour. Naked Calls can be very risky, so if I see an opportunity to get out with a profit, I do! Below are the trades I made to get in and out of the position.<\/p>\n

Weight Watchers Naked Call<\/strong><\/span><\/p>\n

3\/4\/19 \u2013 Sell to Open 10 WTW 3\/8\/19 $22.00 C @ 85\u00a2 (+$850)<\/p>\n

3\/4\/19 \u2013 Buy to Close 10 WTW 3\/8\/19 $22.00 C @ 55\u00a2 (-$300)<\/p>\n

\u00a0Profit +$300<\/strong><\/p>\n

The next trade was made on Tuesday the 5th. This was also made on Weight Watchers (WTW) as a Buy-Write. I bought 1000 shares at $22, and sold the $22 Call for a 60\u00a2 premium ($600). A Buy-Write is a Covered Call, but both buying the shares and selling the Call are done with 1 trade. I sold the Call At-the-Money<\/a><\/span> with the hopes of getting assigned on the stock and having the option expire. The At-the-Money Call I entered for the premium only. I’m not looking to make money on the stock. I bought the stock only to cover my Call for protection in the case the stock takes off and goes much higher. If that happened and I got assigned, I have the stock to deliver.<\/p>\n

In this situation the stock did not go up, it went down. So I was not assigned and I still own the stock. The option expired so I keep the $600 premium. Below is the option trade and the expiration trade. I didn’t post the trade buying the stock because I still own it. I’ll post it when I get out of that stock position. Hopefully with a profit!<\/p>\n

3\/5\/19 \u2013 Sell to Open 10 WTW 3\/8\/19 $22.00 C @ 60\u00a2<\/p>\n

3\/8\/19 \u2013 Expired 10 WTW 3\/8\/19 $22.00 C<\/p>\n

Profit +$600<\/strong><\/p>\n

On this trade I received a question from a reader, Greg.<\/p>\n

Hey coach\u2026.on this WTW trade\u2026what happens if the stock tanks down to 21 or 20 at expiry \u2026???<\/em><\/p>\n

I’m a little upset because I think Greg jinxed me lol. The stock did go down and I still own it because I wasn’t assigned. I’m only joking with Greg! When trading Covered Call, which is a very low risk trade. Probably the lowest risk trade when it comes to options. There’s always a shot the stock will go down substantially. In this case I bought for $22, and as I write, the stock is at $19.83. You should do Covered Call on stocks that you like just in case it does fluctuate down a bit. I really don’t like WTW but I do think the stock will get a little bounce. Oprah is the largest share holder and she took a big hit since June. A hit to the tune of $550 million! I don’t think a person like Oprah is gonna take a half a billion dollar hit without doing something. For my sake, and hers, I hope she does something fast. If not I’ll have to bail out, and hopefully make some premiums before I do so. Just this week I brought in $900 in premiums.<\/p>\n

Also on Tuesday I sold 100 shares of RH (RH). I mentioned in a post I’m looking to dump some stocks I’ve been holding and not trading with while coaching basketball. I want to dump some of my holding to give me more capital to trade with. I bought some of these stocks to be invested while not trading. Right now I don’t like RH. I jumped out with the stock at $154 and it’s been going down since I got out. Today it’s down to $140.50. Even though I only had 100 shares, I’m glad I got out to free up some money. I still have more freeing up to do but it’s a start.<\/p>\n

I got in this stock back on September 5th at $138.86. I know it’s only 100 shares but for a small amount of stock I made a nice profit. Here’s the trades.<\/p>\n

RH<\/strong><\/span><\/p>\n

9\/5\/18 \u2013 Buy 100 Shares RH @ $138.86<\/p>\n

3\/5\/19 \u2013 Sold 100 Shares RH @ $154.00<\/p>\n

Profit +$1514<\/strong><\/p>\n

Total Weekly Gain +$2414<\/h3>\n

I hope everyone had a great weekend. It feels good to be back! Let’s watch to see what happens with my 1000 Weight Watchers shares I’m holding. Come-on Oprah! I’m looking for you in a few big commercials!<\/p>\n

Steve<\/p>\n

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

Hi All, it feels good to slowly get back into my research, my trading and catching up with Main Street beats Wall Street. This is my 1st week ending report in a long time. Let’s see what happened this week. I started the week off with my 1st trade on Monday. I sold a 10 […]<\/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-4760","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\/p75MP0-1eM","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/4760","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=4760"}],"version-history":[{"count":4,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/4760\/revisions"}],"predecessor-version":[{"id":4764,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/4760\/revisions\/4764"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}