I didn’t chart an index this weekend because I went camping on my yearly camping trip with friends from college. That also means I haven’t read Barron’s or any other internet information on market recaps or good picks for the upcoming week. That leaves me with the need to start over by figuring out where I ended last week.
- My 200 ADBE shares were called away with my covered calls. I could’ve bought them back for a profit, but opted to get out.
- My 100 NYX shares were called away with my covered call. I took a loss on it overall since I sold my final covered call too low.
- My DIS naked puts were assigned to me. I have 300 shares now and will write covered calls when the June contracts are available. I could sell my shares, but doubt I will.
- My VIP 32.50 naked puts were assigned to me, but I’m still sitting on a paper profit. My VIP 30 naked puts finished out of the money (OTM) as did my VIP 40 naked calls. I’ll rewrite covered calls, but will do it in the money (ITM).
- My SFLY naked calls finished OTM and I kept full profit on them.
- My POT naked puts finished OTM and I kept full profit on them.
- My MON naked puts finished OTM and I kept full profit on them.
- My DSX naked puts finished OTM and I kept full profit on them.
- My CMI naked puts finished OTM and I kept full profit on them.
- My CELG naked puts finished OTM and I kept full profit on them.
- My FWLT April 65 and April 45 naked puts finished OTM and I kept full profit on them. I also took full profit on my April 70 naked calls. I’m most proud of this series of trades. I didn’t panic after FWLT fell below my 65 strike and sold naked calls and then sold another round of naked puts deeper to dollar cost average the shares if assigned if not just take the full profit. As luck would have it, FWLT rallied for a few days this week and I took full profit on all three options.
This is one of the best option expiration Fridays I’ve had in months. I feel like I’m getting back in my groove a little better at my job and can balance investing, work and home better lately. I’m not denying the bounce from the overall market lows has been a big factor. It has and I played it well.
- I’m long VIP, DIS and NVDA right now.
- I’ve already sold covered calls on NVDA.
- I have naked puts and naked calls on AMAT at the same strike.
- I have naked puts on DD.
- I have naked puts on INTC.
- I have naked puts on QCOM.
- I have a naked put on SLB.
With so many of my puts finishing OTM I am not fully invested right now and have freedom to search for the best opportunities for entry points when I find them without fear of running out of funds for a little while. The trick will be not jumping in too fast at the possible wrong time.