What Are Your Options?

Some time back in my post, “What is Options Trading Drawback?”,  I try to expose you to options trading to make you become comfortable with hearing and seeing options trading concepts and terminology, if you haven’t before, with the hopes that this will start to sink into your mind.  Each month, I put on new options trades and some are a continuation from the past month of positions I am still in.  I want to start giving this each month in order to give you some ideas of what I’m positioned in and how that has been working for me.

Current Options Trades

This pass Monday, I put on the following covered call, secured put, and vertical call options trades with expiration on the 3rd Friday in July and companies are displayed with their stock ticker symbol:

Covered Call

• Sold 2 ACIA Jul17 50 Call @ $1.30 
• Sold 2 MULE Jul17 25 Call @ $1.50
• Sold 5 TWLO Jul17 30 Call @ $0.55

Secured Put

• Sold 2 NVDA Jul17 150 Put @ $4.70
• Sold 2 AMD Jul17 12 Put @ $0.59

Vertical Call

• Sold 1 TSLA Jul17 375 Call @ $16.80
• Bought 1 TSLA Jul17 395 Call @ $9.12

Long Stock

• GDX 100 shares @ $22.50

Remember, 1 options contract in based on 100 shares of stock, in my blog post, “Trading Options Secured Put and Covered Call”, I breakdown some of the basics of the covered call and secured put strategies.  This is actually my first time doing a call spread, but I’ll see how I do with it and let you know next month.  The above is exactly what you would see if you used the platform Options House to trade option. 

In Closing

These are currently the positions I’m working for options trades and I am doing pretty well, with hopes that a few of my positions rebound slowly to what I originally paid for them, but in the meantime, I’ll sit back and collect premiums while I wait and continue to decrease my actual cost basis in these stocks.

In the spirit of the Richest Man In Babylon, from premiums I receive, I direct 10% or more to my long term portfolio in the motifs.  

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