Updated: Nov 15, 2021
Began the week with 200 shares of OCGN being assigned at 11 and 11.5 respectively. Continue weekly WHEEL STRATEGY with selling covered call at 11 and 11.5. Made an unnecessary mistake while executing the SP 11 one. Instead of just 1 contract, I sold 10. That's the default setting of TD Ameritrade. It is actually the 3rd time I made such mistake. I had set it to quantity 1, but when I select a new SP to sell put, the quantity when back to 10. This mistake costed me $50. But after making the same mistake for the 3rd time, I managed to figure out how to change the default quantity to 1 instead of 10.
Opened NVDA Bear call spread on Monday, NVDA had an impressive week prior to this week. Thus I presume they might take a small breather. It was the first time I entered Bear call spread. Usually I do Bull put spread with TSLA and friends (GOOG, FB, MSFT, etc) The big dogs.Closed NVDA all the NVDA contract on Wednesday to book a decent profit of $265 dollars.
The main reason for closing NVDA was due to TSLA was sliding down, fast and furious. Remember its always best to enter Bull Put Spread on a Big red day? That day was Wednesday and I managed to Enter 8 Pairs. I already entered 1 Pair on Tuesday. That brings a total of 9 Pairs for this week. In the end, all work out and expire worthless. Total bagged in $395 for the week just on TSLA.
Sold 200 Shares of BSGM, a random biotech in my watchlist. It dropped to under 3 recently. I entered a few weeks ago at 2.64. Exited around 3.33. Around $138 gain. TD doesn't charge commission for stocks. GREAT!!!
PLTR "crashed" midweek. As a PLTR fan club member, I had to enter Leap Call and do a PMCC on it. I already had 2 LC at same SP and same DTE. Added 1 more to lower down the average. Its always best to get a Leap call when the stock is having a bad day.
WISH has been with me for a while since I got assigned 1100 shares when they were at 9 dollars. Their 3Q results were encouraging but might not push them back to 9 anytime soon (of course unless wallstreetbets trigger it). Thus based on fundamental, I reckoned they should be between 4 to 6 or at best 7 levels. I going to sell CC for better premium at these level. For better capital utilisation, I did a CC at 5.5 and WISH closed below 5.5 after hours. Next week shall do CC either at 5.5 or 6 depending on Monday opening price. Had to closed the CC at SP 9 for next week prior to this entry. So wish from a monthly wheel play, I converted it to weekly. RESCUE WISH CAMPAIGN.
Next is Paysafe, PSFE, bad earnings and reduced annual revenue forecast. As usual market will overreact. Sold put for the week at SP4. Only 1 contract as I'm not that familiar with PSFE. It's a "fun" play. Should not have such "fun" play too often. Pocketed $11 from this play.
Closed Proterra, PTRA, for a good profit of over $462. It is already more 2 bucks above my SP 10 and with a week to go. Instead of letting it expire and get $52, I decided to close it early and channel the margin to another stock.
Open a cash secured position, 4 contracts HNST, the Honest Company. $141 premium collect. Definitely a company I don't mind holding the stock for longer term. It only has monthly options. So I only need to work once a month if I got assigned. 😄
Overall a very successful week (a bit too heavily involved) for the Noob. Next week will be main week as many of my monthly option puts are heading to expiry.
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