Missed Profits - Week in review (Feb 26 - Mar 1)
Saw some potential profits disappear this past week.
Didn't take a loss, but still annoying.
Overall, a profitable week, so can't complain too much.
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | open | BPS | 2024-02-27 | 2024-04-19 | 70 | 65 | 0.99 | 2 | 1.11 | 196.89 |
| SPY | open | BPS | 2024-02-27 | 2024-03-08 | 495 | 484 | 0.57 | 2 | 2.79 | 111.21 |
| GOOGL | open | BPS | 2024-02-28 | 2024-04-19 | 130 | 125 | 0.84 | 2 | 1.11 | 166.89 |
| CSCO | open | Short Put | 2024-02-28 | 2024-03-15 | 46.5 | 0 | 0.13 | 1 | 0.63 | 12.37 |
A few more bullish positions. Market continutes trending up, so just sticking with the trend.
Opened a naked short put on CSCO. This is the second time I've tried it; the first time didn't work out so well for me.
Is it gonna f me up again? Maybe.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPY | open | BPS | 2024-02-20 | 2024-03-01 | 487 | 475 | 0.81 | 2 | 3.59 | 158.41 | $158.41 |
| SPY | expired | BPS | 2024-03-01 | 2024-03-01 | 475 | 487 | 0 | 2 | 0 | 0 | |
| MU | open | BPS | 2024-02-21 | 2024-04-19 | 72.5 | 67.5 | 0.88 | 2 | 1.39 | 174.61 | $110.51 |
| MU | close | BPS | 2024-02-26 | 2024-04-19 | 67.5 | 72.5 | -0.31 | 2 | 2.1 | -64.1 | |
| ENPH | open | BCS | 2024-02-21 | 2024-04-19 | 155 | 160 | 0.7 | 2 | 1.39 | 138.61 | $5.13 |
| ENPH | close | BCS | 2024-02-29 | 2024-04-19 | 160 | 155 | -0.66 | 2 | 1.48 | -133.48 |
- Closed Net Profits/Loss: $274.05
I had a bearish position on ENPH, and it was doing pretty well initially. It was super close to hitting my 50% target profit (i.e like $0.01 away).
Then, the price suddenly gapped/spiked up against my position. I decided to close it for around break-even, instead of seeing it go into the red.
Notes and Lessons #
Nice little profit. Could've been a lot better, but then again -- it could've been worse.
Kicking myself a bit for not closing ENPH early, as I was really considering it before it spiked against me. Oh well. I stuck to the plan, which is a good thing.
CSCO Naked Put - Round 2 #
Haven't messed around with naked puts for awhile, but decided to open a naked short put on CSCO.
About 6 months ago, I also sold a naked put on CSCO.
I was way too aggressive with my strike price selection, as I thought it was getting ready for a big bull run.
A couple weeks later, it tanked, and I ended up getting assigned 100 shares at the very high price of $57. The stock is now around $48. ðŸ˜
So, I'm sitting on like an $800 loss right now (after collected premiums, dividends, etc.)
I was thinking about what to do with the shares. Take my loss? Leave it? Double down?
After a quick, elementary analysis, I decided the stock is undervalued. So, I am doubling down!
I'm looking for the stock to get to around $60/share; we'll see how it goes.