Net $804 in income by selling one contract on these trades
July 31st, 2020
We had a flurry of profitable Options Income Blueprint closeouts last week, with members who sold just one contract of each position booking a potential $387 in income. Those winners capped off an active month in which we closed 12 profitable trades.
Here’s a quick rundown of July’s winners:
But perhaps no stock is more familiar to longtime Options Income Blueprint members than Square (SQ).
While we only closed one winning trade on SQ last month, this was our 35th profitable trade in a row on the stock since April 2018. In total, if you had sold just one contract of each of the SQ trades, you could have generated $2,524 from this stock alone.
You might also notice from the list that the last two trades of the month — on Peloton Interactive (PTON) and Corning (GLW) — were incredibly short term.
Both of those trades in Tuesday’s Options Income Blueprint Live Trading and Strategy session and closed them out just over 24 hours later for terrific profits.
All in all, July was a good month for us!
Competitor Advanced Micro Devices (AMD) already has a 7-nanometer chip on the market, and this type of chip is currently the highest-priced, highest-margin one chipmakers can sell. The combination of potential market share loss to AMD and a delayed flow of increased profits drove analysts to downgrade the stock and shares plunged more than 20% in just over a week.
This hurts. There’s no getting around that. But as I told members, I do not want to abandon our position.
The company is solid and the stock is extremely cheap. Therefore, we accepted shares and will sell calls against them, aiming to generate a cash return of about 1% a week as we work our way back toward breakeven.
To quote Mark Twain, “The report of my death was an exaggeration.” Ditto for Intel.