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@weeklyoptionsincome
May 19th EBAY trade
Following up on the SODA trade, I have one more.
EBAY has been trading in a up channel for the last few months, I have waited until a confirmed bounce of the bottom support to initiate this trade.
Bought EBAY stock at 52.10 and sold a MAY23 52.5Call for .50 premium.
1% premium + .8% stock appreciation potential. Also the current Up channel support comes in at around 50.75 so the downside risk is limited.
May 19th SODA trade
While its the first trade for this blog, its not really my first trade, in fact i am about 80% invested. Anyways lets get to the details.
The trade is a covered call on SODA.
Bought stock at 40.95 and sold a MAR23,41 call against it for 0.90.
Breakeven is at 40.05 which if you check the chart is below the UP trending support line.
The premium is just over 2% ROI for a weeks risk. Also while its pretty small, there is a 5 cent upside on the call.
Lets start
The point of this blog is to shed light to the wonderful world of weekly options trading. I have been trading for a few years now and found some decent and ( key word) steady success. The reason I emphasize on steady is that Options Trading is rather boring. It requires to repeat the same type for not crazy amounts of return ( 1-2% per week depending on what the market gives). While most have you have already left this page, the ones who just had a lightbulb come on, with an idea that " hey 1% a week is about 50% a year which can be a decent income" Congrats, this blog was designed for you.