reference: finviz website
The market today is mixed. S&Pand Dow has been going down. Nasdaq, thanks to Apple and Facebook Netflix, and of course Tesla it went up.
For my holdings thanks to God that it actually went up. All of the position was up. In fact one of the trades went up so much, I decided to close out the trade and put a new trade for it.
Today PLTR moved quite a bit. It went up as high as 16% today. Now is about 13%. Because of the big move, I already captured 80% of the premium. Therefore, I decided to close out the trade. Actually, I decided to close out the old trade and sell a new put @ $26. At this time, it was a naked put. Since it is a low price range for me, if it actually falls below the $26 mark, I will buy the stock and hold on to it for a few weeks to bounce back up. If it closes before $26 at the end of the week, I still collect the premium of $0.9748. Either way, I would be fine, since I have cash sitting in the account.
I also sold Costco (COST) today. Since it has an earning on this Thursday. I sold the right below the current price. It is a bit risky, however, the premium that I am collecting is 1.0596 and the spread is $2.5. As long as Costco stays or above the current price, I would make $1.0596 on the premium. If the Costco earning is bad or the news is bad, it will drop 3-4% of the current price, which means I would lose about $1.5 on the contract. I would say this would be the 50/50 trade. The high of the stock $391 and it went down to $373.79. As the given market condition, I bet Costco should be going higher on the earning.
As for the last trade, I purchased 6 more shares of Tesla. Since my strategy is to add more Tesla each week as long as I make a profit on the selling option. The price I purchase was $621.16. If I purchased last Friday, I would have made more money, my assumption in the trade is I cannot predict the market. I am satisfied with the purchase. Whether it goes up or down, it is still fine by me.
Lastly, I gave an order for WORK to be closed out @ 3.3. I purchased the call @3.2. I do not want to lose money with the commission, therefore, I made an order but I am not sure it will fill out not. If not filled, I will hold on to it for a few more days to see. The current price has about a $0.1 premium built into it. Also, Salesforce purchased the price is out it shouldn't be moving too much is my opinion at this time. My goal for this trade is not to lose money.
PLTR: 10 Dec 11 19/22 Put Vertical @ 0.4897 closed @0.11
Total Profit: $379.7
PLTR: 10 Dec 11 26 Put @ 0.9748 COST: 10 Dec 11 370/372.5 Put @ 1.0596
TSLA: 6 shares @ $621.16
WORK: 5 Dec 20 40 Call @ 3.2051may be closed @ 3.3
SQ: 10 Dec 11 195/200 Put Vertical @ 1.0296 margin requirement $5000
ETSY: 10 Dec 11 149/152.5 Put Vertical @ 1.0896 margin requirement $3000
AMD: 10 Dec 11 149/152.5 Put Vertical @ 1.0896 margin requirement $3000
PLTR: 10 Dec 11 26 Put @ 0.9748 margin requirement $26000 COST: 10 Dec 11 370/372.5 Put @ 1.0596 margin requirement $3000
TSLA: 114 shares
I am not a financial advisor. Any trades listed are my own personal trades and meant for educational purposes only. Option trading bears high risk and high return strategy for trader.