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| NEW TRADE ALERT |  | ||||
| Thursday, April 2, 2020 | |||||
| Cash Secured Put Option Buy Back | |||||
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| Closed a position with Wynn Corp (WYNN) this week | |||||
ORIGINAL TRADE
| TRADE KRUM! (see details below) | DAYS | Cash on Cash % | Annualized | |
| $498.96 | 13 | 9.33% | |||
| The trade results and did it meet expectations? | |||||
| CLOSED A MY POSITION in WYNN today ... addicted to the KRUMS! ... WYNN rallied like no ones business since I put on this trade and thought my shares would surely be taken at expiration ... and I was good with that ... right, as I mentioned, my cost basis was $97 and if I was going to take a loss this year so mitigate some CC profits ... WYNN was my sacrificial lamb ... well, as WYNN pulled back and my $8.50 premium fell to $3.50 ... Im thinking that's a little KRUM! and we'll take it and eat GOOD tonight! ... hey, I also told you that these WYNN shares would be my play toy and sell sell sell prem, playing the game ... and that's what I plan to do ... I will write another CC on these shares and we repeat repeat repeat and hell, maybe Im lucky and NOT lose my asss on WYNN this time :) | |||||
| ORIGINAL TRADE BREAKDOWN | |||||
| DATE | COMPANY | SYMBOL | SHARES | STOCK WAS | |
| Mar-20 | Wynn Corp | WYNN | 100 | $53.50 | |
| STRIKE | EXPIRATION | PREMIUM RECV | CONTRACTS | CoC % ROO | |
| $60.00 | Apr-24 | $8.50 | 1 | 9.33% | |
BUY BACK
| WHY DID I BUY THIS OPTION BACK? | ||||
| read above on this one | |||||
| RESULTS FROM THE OPTION BUY BACK | |||||
| SYMBOL | WHEN STOCK WAS TRADING @ ~ | CASH PROFIT | |||
| WYNN | $53.50 | $498.96 | |||
| PREMIUM RECV | BUY BACK PRICE | REAL $ ? | DIFFERENCE / TV $ | CoC% GAIN | |
| $8.50 | $3.50 | $0.00 | N/A | ||
| Always look at a company's chart ... it tells a story and that story could be UP or DOWN | |||||
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| Education Corner | |||||
| Great Covered Call video posted at | |||||
| Covered Call - Description - A covered call is a financial market transaction in which the seller of call options owns the corresponding amount of the underlying instrument, such as shares of a stock or other securities. ... writing (i.e. selling) a call generates income in the form of the premium paid by the option buyer. Source - https://en.wikipedia.org/wiki/Covered_call | |||||
| Disclaimer - Yes - at the time of this posting I do have a position in this equity. By posting this I am by no means recommending this equity and am not front running for its performance. I have risked my own money and am accountable for the trade results. | |||||
| Image credits - stockcharts.com | barchart.com | foolcdn.com | yahoo.com | earningswhispers.com | |||||
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