Weekly Income Switch Update

Weekly Income Switch Update

Happy Sunday Team,

 

I hope you all have had a great weekend!  I have been doing a lot of studying this weekend and have a few pretty big plays going into the last week of November looking for that Christmas rush.  

 

Here is our weekly update:

 

We have been assigned more shares of GOGO. Our average cost of shares now including the current covered call is $5.05 per share.   We will continue to add CC’s to this position, most likely will not do anymore naked puts unless we see a nice jump in volatility.  

 

On GE a part of me wants shares assigned to us, we would be looking at a cost per share of $7.25 and the amount of volume on some of these calls/puts is amazing.  This will be one that I will continue to play and wouldn’t mind being a long term hold.

 

CRON is still an amazing money maker.  We’ve made over $2.71 or $2,710 on 10 contracts (including last weeks roll)  since 10/16 on this trade.   

 

This week obviously volume was very low but, This week based on $500 trades:

 

FB Iron Condor Adjustment +80% or +$400

TIF Put Spread -40% or -$200

C Call Spread +60% or +$420

SPY Put Back Ratio +275% or +$1,375

SPY Day Trade -50% or -$250

GM Calls -15% or -$75

SPX Iron Condor +100% or +$500

 

CRON Naked Put +.25 or +$250

CRON Covered Call +.15 or +$150

GE Naked Put +.13 or +$130

 

Assigned Shares of GOGO

 

Total this week: $2,700 based on $500 trades or $2,170 not including covered calls and naked puts