My Options Account on July 5, 2013

Yesterday was expiration on my weekly options.  It was a great day for my options.  My big winner was Apple.  I needed Apple to go down between $1 and $6 and the stock finished down $3.30.  Pretty nice for that to happen in a big up day.  All my other stocks finished between my option strike prices so I made full profits on all my positions.  I finished the week up $3,237.65 for a 29.79% profit.

There was one hiccup that happened right at the end of the day yesterday that is sort of stressing me out.  Mastercard was sitting about $1.50 away from my 595 Call Strike price with about 20 minutes until close.  The market started to increase and Mastercard followed suit.  MA was moving up but was still over .50 away from 595 with one minute to go.  I didn't think I would need to buy back my 4 595 call options and just let the position ride.  The market makers moved this stock all the way up to 595.02 at close and now I'm going to be assigned on 400 shares short at 595.  I already bought 200 shares to reduce my risk but if this stock moves higher on Monday I could be losing a lot.  If the stock goes down I could make a lot.  Either way I just need to get out of this stock as early as possible on Monday.  I'm mostly upset because I need to pay the $15 commission per option assignment plus the $5 stock purchase commission so these fees really eat up a lot of money.  So hopefully MA goes down and this assignment won't hurt me.

Another tip if you work with an online broker is always try and negotiate better commissions.  I pay $1.50 per contract which is pretty good at thinkorswim.com.  If you want me to refer you to thinkorswim let me know and I should be able to get you these rates.  Just send me an email to jonnyg141414@gmail.com

Jonny

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