Updating WalMart and Apple
After moving, I got busy and was not able to continue writing for DeepPocketOtions. That project is now under control and there are many trades to talk about since October.
Starting with WalMart – our profit for the year was $1130 on October 3rd. We continued to trade the options, moving in and out of various put, call and stock positions over the last two months. Our profit today stands at $2001 for the year, so it’s earning about $350 a month now. That’s a respectable income created from simply selling a few put positions on days when WalMart happens to be down.
The current position is short 1 weekly 84 put and short two 86 puts – all expiring this week. The 84 put was sold for .75 on November 25. It can now be bought for 7 cents. Tomorrow, we will place an order to buy it back and close the position for 5 cents. This can be done on ThinkOrSwim commission-free so the trade will close for a profit of about $70. The 2 short 86 puts are deteriorating at about $12 a day, so we will keep that position on until later in the week. if WMT goes below $86, then we may have some work to do. Time will tell.
Our yearly profit on Apple is now up to $12,572 so we are averaging well over $1000 a month here. The strategy remains the same — sell puts on days when Apple is down and then trade around that position as things develop. It’s almost too simple, but those are the best trades. They are clearly understandable at all times. We were mostly out of Apple in November with just a couple of small in-and-out round trip trades – there just weren’t many down days! Yesterday it was down so we sold 2 weekly 110 puts. This position is decaying at $19 a day, so we will let it ride for remainder of the week.
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Stay optioned, my friends.