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