BUY F @ 13.07
SELL F Aug10 13 Call @ 0.37
I meant for this to be a weekly call — but instead sold the monthly. At least it’s only an extra week in this case.
SELL BP @ 40.00
Assigned again.
BUY BP @39.15
SELL BP AugWk1 40 Call @0.50
That worked well, let’s try it again.
SELL NFLX @ 101.67
BUY BP @38.04
SELL BP JulWk5 38 Call @0.34
NFLX crashed after revenues weren’t too high and I am moving into the new weekly options that are now offered after a near 20% drop.
Update: Three weeks later — NFLX is approaching $140. FML.
BUY NFLX @ 121.45
SELL NFLX Aug10 125 Call @6.60
BUY NFLX Aug10 125 Call @6.85
So over the last two months I have traded more than I had in the last 5 years. I have become a “trader”. Yuck. The whole point of having your money work for you is that you don’t have to! But over the last two months I have had to babysit the market and hold my portfolio’s hand through the turbulence. That’s not to say there haven’t been great opportunities along the way, but there have also been a lot of risks.
So today I began selling my positions and reallocating cash to a new strategy going forward. I will simply be purchasing plain old stocks and writing calls on them. Starting with Netflix, who will be releasing Q2 earnings tonight and hopefully into a wide assortment of stocks in the future. I may occasionally use excess cash to buy options if an opportunity presents itself. The goal is to make ~2% a month, plus “bonuses” if the options get exercised. Not to mention a 1000% increase in peace of mind.
SOLD AAPL Aug10 260 Call @9.60
SOLD AAPL Aug10 270 Call @ 5.70
Street: $3.11
Me: $3.71
Actual: $3.51
A nice compromise. AAPL puts out yet another best ever quarter. Was it ever in doubt? Stock is up over $10 in after hours. I don’t understand why the market was pushing the stock down as low as $240 leading up to this. Madness. Oh well, it was easy pickings for me. That said, this is a good reason why you shouldn’t try to understand or fight the market. It will do what it wants, with or without good reason. Don’t try and fight the current, just ride the wave.
BUY AAPL Aug10 270 Call @3.48
Down again! AAPL is trading below $242 at open. Does the market really think earnings will be bad tonight? Fools, time to buy more calls.
