{"id":6226,"date":"2019-11-08T14:23:36","date_gmt":"2019-11-08T19:23:36","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=6226"},"modified":"2020-04-23T12:01:34","modified_gmt":"2020-04-23T16:01:34","slug":"sold-my-planet-fitness-long-calls","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=6226","title":{"rendered":"Sold My Planet Fitness Long Calls"},"content":{"rendered":"

Sold my 5 contract Planet Fitness (PLNT) Call.<\/p>\n

A little over a week ago I liked the Candlestick Chart on PLNT. I bought 5 contracts of the 5\/15\/20 $65 Calls. I paid a premium of $6.90 for a total of $3450.<\/p>\n

I\u2019ll be very honest with you. I planned on holding these options for a few months. The stock took a beating lately and on Oct 9th it hit support and started heading north. I felt like the stock was gonna return into the 70\u2019s, and I still do. They reported earnings today and I wasn\u2019t even looking into it, for 2 reasons. #1, I\u2019m preoccupied with watching my Naked Calls that are expiring today. And #2, I planned on holding for a while. Well, the earnings were good, at least they were in line. With the stock shooting up to $70 it looked promising. It backed off a bit so I decided to bail out and lock up some profit. If it blew the Street\u2019s estimates out of the water I might have held a little longer. But reporting in line I feel there might be a pull back from today\u2019s high. If it does pull back I\u2019ll be jumping back in. For right now I\u2019m happy putting $1260 in my mattress. That\u2019s a 36.5% return in about a week.<\/p>\n

10\/30\/19 \u2013 Buy to Open 5 PLNT 5\/15\/20 $65.00 C @ $6.90 ($3450)<\/strong><\/p>\n

11\/8\/19 \u2013 Sell to Close 5 PLNT 5\/15\/20 $65.00 C @ $9.42 ($4710) <\/strong><\/p>\n

Profit +$1260<\/strong><\/h4>\n

Remember, this was a long option. When you buy options, take profit! Things can change real fast. Then you have to deal with Time Decay<\/a>. There are plenty of times I get out of options too quickly, and that\u2019s fine! I\u2019ll never go broke taking profit. When trading options is important to stick to a plan of taking profit and being discipline.<\/p>\n

I\u2019ll be watching PLNT very closely for a new entry point.<\/p>\n

This is $1260 profit unexpectedly added to my weeks gain. This is developing into a very good week. Watch for my weekly report.<\/p>\n

Also, my opinion on U.S. Steel (X) may be changing. I\u2019m doing some research and I\u2019ll be writing about my findings this weekend. If you read my last post, I bought 1000 shares to cover my 10 contract Call. I bought at $13.42 and the stock is covering a $13.50 Call. As I write, the stock is at $13.59. It looks like I might be assigned, which I was hoping for. I haven\u2019t been so high on X and like I said, that might be changing. At least, short term anyway, but I am a swing trader!<\/p>\n

Successful trading,<\/p>\n

Steve<\/p>\n

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

Sold my 5 contract Planet Fitness (PLNT) Call. A little over a week ago I liked the Candlestick Chart on PLNT. I bought 5 contracts of the 5\/15\/20 $65 Calls. I paid a premium of $6.90 for a total of $3450. I\u2019ll be very honest with you. I planned on holding these options for a […]<\/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-6226","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\/p75MP0-1Cq","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/6226","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=6226"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/6226\/revisions"}],"predecessor-version":[{"id":7495,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/6226\/revisions\/7495"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}