I’m somewhat new to trading so I’m being conservative by just selling covered calls or cash puts.
Total gain today (and likely for the week) was 704.82
Overall I’ve made 7851.91 since 21 June and I thought I’d start sharing what I’m doing. It’s modest gain but it’s something.
$NVDA CC, 2 contracts, premium 2.11 a share , strike of 124 expiring 7/26. I may end up rolling this as I’m long at 118.91 and I love that low avg price.
$GME CC, 3 contracts, premium .41 a share, strike at 29 expiring 7/26. I have an additional 24 contracts from last week expiring this week as well that I rolled for about 2k.
$DJT CC, 1 contract, premium 1.60 a share, strike 36, expiring 7/26.
I stupidly sold cash puts on this immediately after the assassination attempt. The fundamentals are terrible, I’m just in it for the pump and dump. Just after the assassination attempt there was a pop on the 24 hour market, another pop in premarket, and at market open. I expected the same with Biden dropping out and while there was a surge on the 24 hour market, it failed to maintain those levels premarket and at the opening bell. I’ll be selling these just as soon as I can.
$AVGO cash puts is kinda hurting me. 1 contract from last week with a strike of 158.5. I don’t think it will come back down to that level by end of week and I’ve tied up 16k that I could use to just buy the stock. It has an avg price projected price in one year at 192 on Fintel, with the price at 160 right now it's basically got a bigger upside potential than $NVDA. $NVDA is sitting at 123 with a projected 1 year avg of 132. Thinking between a 5:1 or 3:2 investment ratio $AVGO to $NVDA.
Finally $PFE. I bought 30 calls, .55 a share premium, at a strike of 31 expiring 8/30. $PFE just spent 2.54 million on lobbying (info from quiverquant.com). They have earnings coming up on 7/30 premarket and there’s been breakthrough in glp-1 medication in pill form. Covid vaccinations will be on-going revenue and they’ve had positive earning several quarters in a row. My breakeven price is 31.55, so in retrospect I should have spent more money on a lower strike price, as there is significant resistance at 30.
This is my first true options play.
NFA and happy hunting
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