{"id":7200,"date":"2020-02-14T10:18:46","date_gmt":"2020-02-14T15:18:46","guid":{"rendered":"http:\/\/www.mainstbeatswallst.com\/?p=7200"},"modified":"2021-01-02T22:14:48","modified_gmt":"2021-01-03T03:14:48","slug":"canopy-covered-call","status":"publish","type":"post","link":"https:\/\/www.mainstbeatswallst.com\/?p=7200","title":{"rendered":"Canopy Covered Call"},"content":{"rendered":"

I\u2019ve been in Canopy (CGC) since 1\/14, 1 month now. In that 1 month I bought 500 shares, sold Calls and got assigned, bought another 500 shares, sold Calls twice without getting assigned, and today I just sold another 5 contract Call.<\/p>\n

In this 1 month I brought in $250 with assignment and a total of $1150 in premiums. I just sold another Call and brought in another $300 as a premium. This makes my total premiums $1450.<\/p>\n

In this 1 month CGC took a big dip and I was worried. I really never liked the pot stocks but CGC had good premiums so I figured it was worth a shot with 500 shares. I was worried because the pot stocks were in a nose dive, plus the uncertainty of where the coronavirus was gonna take the market. Well, today CGC game out with great earnings and the stock is up 20%.<\/p>\n

\"\"<\/a>I bought these 500 shares at $25. Today with the stock at $23.50 I sold 5 CGC 2\/21\/20 $25 Calls for a premium of 60\u00a2. If you got in today at $23.50 and sold this Call at 60\u00a2 you would have a 2.5% return. Me, I\u2019m in the stock at $25, so it\u2019s a 2.4% return for 1 week.<\/p>\n

Sell to Open 5 CGC 2\/21\/20 $25.00 C @ 60\u00a2 (+$300)<\/strong><\/p>\n

This is a Covered Call on previously owned stock so I give this trade a Risk Factor 1<\/strong>. I\u2019m hoping the stock continues up on the great earnings and I get assigned. I think I did well with this stock but I\u2019m looking to move on from CGC. If I do get assigned I will not make money on the stock sale because I sold the Call At-the-Money. Not At-the-Money of where the stock is today but at where I bought the stock.<\/p>\n

Successful trading,<\/p>\n

Steve<\/p>\n

The Options Coach<\/em><\/p>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019ve been in Canopy (CGC) since 1\/14, 1 month now. In that 1 month I bought 500 shares, sold Calls and got assigned, bought another 500 shares, sold Calls twice without getting assigned, and today I just sold another 5 contract Call. In this 1 month I brought in $250 with assignment and a total […]<\/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-7200","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\/p75MP0-1S8","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/7200","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=7200"}],"version-history":[{"count":2,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/7200\/revisions"}],"predecessor-version":[{"id":9761,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=\/wp\/v2\/posts\/7200\/revisions\/9761"}],"wp:attachment":[{"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mainstbeatswallst.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}