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Tuesday, March 28, 2023

Options trading : US Oil Fund ETF (USO) semi-bullish trade and Assignment

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


Friday, 3/24/2023 (11:16 am, PT)

sell -1 March 24, 2023 $61 put at $0.16 (credit)
  • 0 DTE (expires in less than 2 hours)
  • prob ITM/assignment: 39% (high)
  • USO = $61.20

Friday, 3/24/2023 (1 pm, PT)  🠈🠈 expiration
  • USO closed at $60.96
  • My short put was in-the-money by $0.04
  • I could have tried to buy back my short put to avoid assignment, but the bid/ask spread was over $0.10
  • I chose to take the assignment
  • I had to buy 100 shares of USO at $61/share


Monday, 3/27/2023

USO jumped over $3/share, so I sold my 100 shares at $64.05 and took a quick profit.

TOTAL PROFIT:  $321 (in 2 trading days)


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Friday, March 24, 2023

Options trading : US Oil Fund ETF (USO) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


Monday, 3/13/2023

sell -1 March 17, 2023 $60 put at $0.17 (credit)
  • 4 DTE
  • prob ITM/assignment: 9.59%
  • USO = $65.38


Friday, 3/17/2023 (expiration)

USO closed at $58.66, so I got assigned 100 shares of USO at $60/share


Monday, 3/20/2023

sell -1 March 24, 2023 $60 call at $1.42 (credit)
  • 4 DTE
  • prob ITM/assignment:  66%

NOTE:  I generally don't like to sell covered calls because they limit the upside potential.  In this case, however, I decided I would be OK if I got "called away" (sell my shares) at $60 because that was my put-assignment price.  I collected $142 for the call option plus another $17 for the original short put.

My covered call expires on Friday, March 24 . . .  stay tuned . . .



Friday, 3/24/2023 (expiration)

USO closed at $60.96

My covered call ended up in-the-money, so I had to sell my 100 shares at the strike price of $60/share

TOTAL PROFIT:  $159


NOTE:
On 3/23/2023, USO hit a high of $63.  
If I did NOT have this covered call, I could have sold my 100 shares at $63 and made a profit of $300.  BUT, I had the covered call, so I was "stuck."
That's the reason I don't like to sell covered calls.


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Options trading : Amazon (AMZN) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/24/2023

sell -1 March 24, 2023 $80 put at $0.59 (credit)

  • 28 DTE
  • "oversold"
  • prob ITM/assignment: 12.34% (low)
  • AMZN = $93.07


3/24/2023 (expiration)

AMZN closed at $98.13

my short put expired

PROFIT:  $59


 GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


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Options trading : US Oil Fund ETF (USO) semi-bullish trade

  GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


3/24/2023 (11:16 am, PT)

sell -1 March 24, 2023 $61 put at $0.16 (credit)
  • 0 DTE
  • prob ITM/assignment: 39% (high)
  • USO = $61.20

later that day . . . 

USO closed at $60.96 at 1 pm, PT, so my short put was in-the-money by exactly $0.04!

I could have TRIED to buy back my put at $0.04 to avoid assignment, but I chose not to do that.

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Options trading : US Natural Gas ETF (UNG) semi-bullish trade

 GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


3/23/2023

sell -1 March 24, 2023 $7 put at $0.07 (credit)
  • 1 DTE
  • prob ITM/assignment: 30% (average)
  • UNG = $7.19


3/24/2023 (expiration)

UNG closed at $7.33 

put option expired

PROFIT:  $7.00


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Thursday, March 23, 2023

Options trading : US Oil Fund ETF (USO) semi-bullish trade

     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


Wed. 3/8/2023 (12:34 pm, PT)

sell -1 March 17, 2023 $60.50 put at $0.10 (credit)
  • 9 DTE
  • prob ITM/assignment:  6.18% (very low!)
  • USO = $67.12 (-0.73)


Fri. 3/17/2023 (expiration)

USO closed at $58.66

My short put ended up "in-the-money," so I got assigned 100 shares at $60.50/share


Wed. 3/22/2023

I sold my 100 shares of USO at $62.50 ($2 higher than my assignment price)

TOTAL PROFIT: $10 (put premium) + $200 (100 shares) = $210

NOTE: 
Notice that the probability of assignment for the March 17 put was only 6.18%, but I still got assigned.  In this case, the trade worked out nicely because USO rose after I got assigned.  Thus, I was able to make a nice profit in a very short time.

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Options trading : Campbell Soup Co (CPB) semi-bullish trade

     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/3/2023

sell -1 March 17, 2023 $45 put at $0.25 (credit)
  • CPB = $50.88
  • prob ITM/assignment:  12%
  • 42 DTE
  • "oversold"


3/17/2023 (expiration)

CPB closed at $53.38

Put option expired

PROFIT:  $25

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Options trading : Alphabet (GOOGL) semi-bullish trade

     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


3/7/2023

sell -1 March 17, 2023 $87 put at $0.27 (credit)
  • 10 DTE
  • GOOGL = $93.84 (-1.29)
  • prob ITM/assignment: 11%


3/17/2023 (expiration)

GOOGL closed at $101.62

my short put expired

PROFIT:  $27




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Friday, March 10, 2023

Options trading : Alphabet (GOOGL) semi-bullish trade

      GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/2/2023

sell -1 March 10, 2023 $89 put at $0.52 (credit)

  • GOOGL = $106.44
  • probability ITM/assignment = 9.71% (low)
  • margin requirement:  $455
  • 36 DTE


3/8/2023 (2 DTE)

buy back short put at $0.02 (debit)

PROFIT: $50


     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

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Options trading : Amazon (AMZN) semi-bullish trade

      GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/24/2023

sell -1 March 10, 2023 $82 put at $0.23 (credit)

  • 14 DTE
  • AMZN = $92.78 (-3.04)
  • probability ITM/assignment = 7.73% (low)


3/10/2023 (expiration)

AMZN closed at $90.73

my short put expired perfectly

PROFIT: $23


     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

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Options trading : Alphabet (GOOGL) semi-bullish trade

      GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/24/2023

sell -1 March 10, 2023 $81 put at $0.25 (credit)

  • 14 DTE
  • GOOGL = $88.98 (-1.91)
  • probability ITM/assignment = 9.65% (low)


3/10/2023 (expiration)

GOOGL closed at $90.63

my short put expired perfectly

PROFIT:  $25


     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

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Monday, March 6, 2023

Options trading : US Oil Fund ETF (USO) semi-bullish trade

     GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/27/2023

sell -1 March 10, 2023 $61 put at $0.25 (credit)

  • 11 DTE
  • USO = $66.27
  • probability ITM/assignment: 12.35% (low)


3/16/2023 (12:25 pm, PT)

with 4 days left until expiration, I decided to buy back my short put, take my profits and remove the risk of assignment.

I bought back my put for $0.01 (debit)

PROFIT:  $24 (in 7 days)


 GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.

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Friday, March 3, 2023

Options trading : US Oil Fund ETF (USO) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.



1/30/2023

sell -1 Feb 3, 2023 $66 put at $0.40 (credit)
  • 4 DTE


2/3/2023 (expiration)

At 7:27 am (PT), I bought back my short put at $0.01 (debit).

It's a good thing I did that because at expiration, USO closed at $64.40 (below my strike price!).

PROFIT:  $39



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Options trading : Alphabet (GOOGL) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.



2/22/2023

sell -1 March 3, 2023 $85 put at $0.23 (credit)
  • GOOGL = $91.67
  • 10 DTE
  • prob ITM/assignment:  10% (low)


3/3/2023 (expiration)

GOOGL closed at $93.65
my short put expired perfectly

PROFIT:  $23





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Options trading : Alphabet (GOOGL) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.



2/3/2023

sell -1 March 3, 2023 $88 put at $0.24 (credit)
  • GOOGL = $104.38 (-3.36)
  • prob ITM/assignment = 6%
  • 28 DTE


3/2/2023 (1 DTE)

buy back short put at $0.01 to remove the risk

PROFIT:  $23





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Options trading : Amazon (AMZN) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.



2/21/2023 

sell -1 March 3, 2023 $85 put at $0.22 (credit)
  • AMZN = $94.57 (-2.63)
  • "oversold"
  • 10 DTE
  • prob ITM/assignment: 8% (very low)


3/3/2023 (expiration)

AMZN closed at $94.90
my short put expired perfectly

PROFIT:  $22

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Options trading : Alphabet (GOOGL) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.



2/21/2023

sell -1 March 3, 2023 $83 put at $0.17 (credit)
  • GOOGL = $92.08 (-2.26)
  • prob ITM/assignment:  6.76% (very low)
  • 10 DTE


3/3/2023 (expiration)

GOOGL closed at $93.65
My short put expired perfectly

PROFIT:  $17

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Options trading : US Oil Fund ETF (USO) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.



2/21/2023

sell -1 March 3, 2023 $60.50 put at $0.14 (credit)
  • prob ITM/assignment: 8.49% (high probability of success)
  • USO = $67
  • 10 DTE


3/3/2023 (expiration)

USO closed at $69.86
my short put expired perfectly

PROFIT:  $14







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Friday, February 24, 2023

Options trading : US Oil Fund ETF (USO) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/3/2023

sell -1 Feb 24, 2023 $58 put at $0.45
  • USO = $64.59
  • prob ITM/assignment: 17%
  • 21 DTE
  • "oversold"


2/24/2023 (expiration)

USO closed at $67.10

my short put expired perfectly

PROFIT:  $45


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Options trading : Amazon (AMZN) semi-bullish trade

    GET WEEKLY TRADE IDEAS HERE.

FREE OPTIONS TRADING LESSONS HERE.


2/9/2023

sell -1 Feb 24, 2023 $83 put at $0.22
  • prob ITM/assignment:  6%
  • AMZN = $97.93
  • 15 DTE


2/24/2023 (expiration)

AMZN closed at $93.50

my short put expired perfectly

PROFIT:  $22





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