Grasshoppers<\/a><\/span> should take this time to paper trade, watch the market closely and continue to study.<\/p>\nThis week I made 3 trades where the stock went well below my buy-in price. Thinking the virus was gonna keep them down and in each trade I used a Strike Price where I didn\u2019t want to get assigned. These stocks were Canopy (CGC), Micron (MU) and Weight Watchers (WW). 2 out of the 3 stocks went above my Strike Price leaving me in a losing situation; I was gonna be assigned at a price lower than my buy-in price. I didn\u2019t want to lose my stock at a large loss and I didn\u2019t want to do Roll Outs. I decided to \u201cBuy to Close\u201d the positions at a loss and keep my stock. On MU I lost $1400 and with WW I lost $550. The sole position that worked out the way I predicted was CGC. I kept the premium and kept the stock.<\/p>\n
I\u2019ll take the losses and move on. Below are the trades of the week.<\/p>\n
With DISH I continue to bail out of my 10 long contracts. This week I sold 2 of them.<\/p>\n
9\/16\/19 \u2013 \u00a0Buy to Open 2 DISH 6\/19\/20 $35.00 C @ $6.30 ($1260)<\/strong><\/p>\n2\/3\/20 \u2013 Sell to Close 2 DISH 6\/19\/20 $35.00 C @ $5.00 ($1000) <\/strong><\/p>\n\u00a0Loss \u2013 $260<\/strong><\/span><\/h4>\n
\nI sold 2 Calls on my Apple shares and was not assigned.<\/p>\n
1\/31\/20 \u2013 Sell to Open 2 AAPL 2\/7\/20 $325.00 C @ $2.50 (+$500)<\/strong><\/p>\n2\/7\/20 \u2013 Expired 2 AAPL 2\/7\/20 $325.00 C <\/strong><\/p>\n\u00a0Profit +$500<\/strong><\/span><\/h4>\n
\nThis is the Canopy trade.<\/p>\n
2\/3\/20 \u2013 Sell to Open 5 CGC 2\/7\/20 $23.50 C @ 50\u00a2 (+$250)<\/strong><\/p>\n2\/7\/20 \u2013 Expired 5 CGC $23.50 C <\/strong><\/p>\nProfit +$250<\/strong><\/span><\/h4>\n
\nThis is the Micron trade. I did the Buy to Close so I still own the stock.<\/p>\n
2\/3\/20 \u2013 \u00a0Sell to Open 10 MU 2\/7\/20 $55.00 C @ 50\u00a2 (+$500)<\/strong><\/p>\n2\/7\/20 \u2013 Buy to Close 10 MU 2\/7\/20 $55.00 C @ $1.90 (-$1900) <\/strong><\/p>\nLoss -$1400<\/strong><\/span><\/h4>\n
\nThis is the Weight Watchers trade. I did the Buy to Close so I still own the stock.<\/p>\n
2\/3\/20 \u2013 Sell to Open 10 WW 2\/7\/20 $35.00 C @ 55\u00a2 (+$550)<\/strong><\/p>\n2\/7\/20 \u2013 Buy to Close 10 WW 2\/7\/20 $35.00 C @ $1.10 (-$1100) <\/strong><\/p>\nLoss -$550<\/span>\u00a0<\/strong><\/h4>\n
\nI sold 100 of my Apple shares. I\u2019m worried about Apple in China.<\/p>\n
1\/21\/20 \u2013 Buy 100 Shares AAPL @ $317.50<\/strong><\/p>\n2\/7\/20 \u2013 Sell 100 Shares AAPL @ $320.00 <\/strong><\/p>\n\u00a0Profit +$250<\/strong><\/span><\/h4>\n
\nThe week ended with a loss but not too bad,<\/p>\n
Total Weekly Loss -1210<\/strong><\/h2>\nLet\u2019s hope they get the virus under control and the market becomes a little more predictable.<\/p>\n
Successful trading,<\/p>\n
Steve<\/p>\n
The Options Coach<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"The coronavirus cases continues to grow and the market volatility continues to raise. I normally like market volatility because it causes option\u2019s premiums to go up, and as an option\u2019s trader, more specifically an options seller, higher premiums are a good thing. And it\u2019s not that the volatility is so high, it\u2019s the market is […]<\/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-7146","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\/p75MP0-1Rg","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/7146","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=7146"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/7146\/revisions"}],"predecessor-version":[{"id":9752,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/7146\/revisions\/9752"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}