Not a bad week for a low trade volume trade week.<\/p>\n
3 positions came to an end this week. 1 was closing a LEAPS position with U.S. Steel (X), 1 was the expiration of a Covered Call option with Jabil (JBL), and the last was the expiration of a Naked Call on Square (SQ).<\/p>\n
I bought a LEAPS option on X back on 11\/11\/19. I was in the LEAPS position only a month but I didn\u2019t like the way the stock was moving. I think this position will make money but I\u2019m just trying to clear up some of my positions in preparation for the new year. I left the position with a small dollar amount in profit but it was a 6% gain on my investment so I\u2019m happy. Whenever you leave a position making money while trading options, be happy!<\/p>\n
11\/11\/19 \u2013 Buy to Open 10 X 1\/15\/21 $13.00 C @ $3.30 ($3300)<\/strong><\/p>\n 12\/6\/19 \u2013 Sell to Close 10 X 1\/15\/21\/ $13.00 C @ $3.50 ($3500) <\/strong><\/p>\n On 11\/29\/19 I bought 1000 shares of JBL for $39.08 per share. I also sold a 10 contract, $39.50 option, to expire this past Friday. The stock went up from where I bought but not up to my Strike Price. The option expired, I keep the $450 premium, and I still own the shares. Monday I\u2019ll watch to see how the stock moves and determine if I want to sell another Call or just sell the stock.<\/p>\n 11\/27\/19 \u2013 Sell to Open 10 JBL 12\/6\/19 $39.50 C @ 45\u00a2 (+$450)<\/strong><\/p>\n 12\/6\/19 \u2013 Expired 10 JBL 12\/6\/19 $39.50 C<\/strong><\/p>\n On 11\/26\/19 SQ was up and I sold a $71 Naked Call. I sold a Naked Call because I felt the stock was gonna back off. It did and the Call expired below the Strike. I keep the $600 premium and this position is closed. I love Naked Calls when they work the way you planned.<\/p>\n 11\/26\/19 \u2013 Sell to Open 10 SQ 12\/6\/19 $71.00 C @ 60\u00a2 (+$600)<\/strong><\/p>\n 12\/6\/19 \u2013 Expired 10 SQ 12\/6\/19 $71.00 C <\/strong><\/p>\n I\u2019m holding back on trades this month, getting ready for the new year. I really had a great 2019 and I want to bring my profits into 2020. You can read about my 2019 results at Year To Date (YTD) Results<\/a><\/span>.<\/p>\n I just put up a new page. It\u2019s under \u201cPhilosophy, Strategy & Risk.\u201d The page is called Alternative Covered Call. You can be an options trader without reading this page but I think it\u2019s important to understand many different strategies, and this is a good one. Especially if you work on margin. It\u2019s a strategy I\u2019ll be using in my new Wealth Builder section. If you plan on following Wealth Builder make sure you read Alternative Covered Call<\/a><\/span>. Wealth Builder will be published in a day or 2. It\u2019s ready and I would put it up right now but I out in the Hampton with my wife, Irene and some good friends. Hopefully I\u2019ll get to it later today.<\/p>\n Successful trading,<\/p>\n Steve<\/p>\n The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Not a bad week for a low trade volume trade week. 3 positions came to an end this week. 1 was closing a LEAPS position with U.S. Steel (X), 1 was the expiration of a Covered Call option with Jabil (JBL), and the last was the expiration of a Naked Call on Square (SQ). I […]<\/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-6590","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\/p75MP0-1Ii","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/6590","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=6590"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/6590\/revisions"}],"predecessor-version":[{"id":8131,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/6590\/revisions\/8131"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Profit +$200<\/strong><\/h4>\n
\nProfit +$450<\/strong><\/h4>\n
\n\u00a0Profit +$600<\/strong><\/h4>\n
\nTotal Weekly Gains +$1250<\/strong><\/h2>\n
\n