+$162 profit in Nike & JNJ
Hello and how are your wallets after Black Friday?
Both of last week's trades in Johnson & Johnson and Nike closed this week for a profit, so that's indirectly funding our Black Friday buys :D
$34 profit in Nike
(another) $128 profit in Johnson & Johnson
$34 profit in Nike
Last week I shared the trade entry in Nike where I sold a $90 cash-secured put expiring 16 December for $69 in premium. My target as always was 50% of max profit, which was hit this week. I paid $35 to close my position, which left me with $34 in reallised profit.
That was the final live trade update for my 2022 course, I think we did really well, helped of course by a volatile market in September and October. Past returns are no guarantee of future performance and all that.
If you want to find out more about the Nike trade, click on the link below to follow the trade entry.
(Another) $128 profit in JNJ
This is a follow up to last week's trade, where I originally sold 2 puts in JNJ at the $165 strike expiring 16 Dec for $168. Last week I closed 1 put at 50% locking in $85 profit, this week I closed the remaining put at 50% profit, locking in $128. That is a total realised profit of $213 or 63% of max profit. As always, you can check out the trade history within my app (Tastyworks) below.
I've been trying to pick up JNJ all year for anything lower than $171.54 (its opening price for 2022), but have so far been unsuccessful.
On the bright side, I've locked in $1,857 in realised profits across 8 trades in 2022, which will still help to lower my cost basis per share if/when I eventually get assigned.
If you'd like to read more about how I use options to build positions in a long-term portfolio, click the link below.
This article is for educational purposes only. This is my own portfolio which is being managed according to my goals and risk tolerance. Your situation is likely different and you should do your own due diligence before investing in stocks or options.