Three day weekly option trades are wonderful.
Who doesn’t like to collect extra cash every week?
We either hold them to expiration or close them early for quick cash.
Here is how this just played out for us.
Weekly Option Trade #1
We made the first trade on a Tuesday with Gilead Sciences (NASDAQ: GILD), the leader in treatments for HIV and hepatitis C (HVC) drugs and what I consider the best-managed biopharma company in the world.
A first rate management team, a steady performing company that is undervalued by Wall Street and this stock enjoys rich premiums … perfect for selling week options.
We sold the GILD 62 Put for $0.89 or $89 per contract for the following Friday expiration.
Two days later, Gilead stock popped on a minor FDA ruling and we closed our position with at $0.53 or $53 per contract.
Weekly Option Trade #2
That same Tuesday we traded retailer Target (NYSE: TGT).
This stock has been on a gentle upward trend as Target’s new capital spending strategy appears to be working. Last month, the retailer reported higher revenue, earnings and same-store sales growth than expected. And digital sales were up an impressive 42% year over year.
We sold the TGT August monthly 81.50 put option for $3.65 and as the stock climbed higher we closed it early buying it back for a net profit of $1.16 or $116 per contract in just 2 days!
We didn’t stop there.
Weekly Option Trade #3
The next day, we traded “chip maker” Micron Technology (NASDAQ: MU), which despite the ongoing China trade war, has held up well compared to other semiconductor stocks.
This time we sold the MU 38.50 put option for the following Friday … 7 days out and collected $0.54 or $54 per contract.
The stock moved up in late week trading and we closed it early and took our profits!
Trading just 3 contracts our total profits for two and half days of trading tallied $669 in cash from three simple weekly option trades.
We’ll keep them coming.
You can join us starting this week.
My Options Income Blueprint members are already working our next “weekly paycheck” trade for this week. Start collecting cash immediately when you get a hold of my “Weekly Paycheck” Training Course.
About The Author
Michael Shulman is a 30 Year Veteran of the financial markets – as a trader, a financial analyst, a financial writer and most recently as an educator.
He has published two books – Sell Short and Made in America – both of which can be found on Amazon.com, and he is a frequent contributor to reputable financial sites like Seeking Alpha, MSN, MainStreetInvestor, and Traders Reserve.
Most importantly, since 2010, he has dedicated himself to teaching income investors how to get more income from their portfolios using simple yet safe options selling strategies which produce income every week. This approach was developed from the ground up in Mr. Shulman’s own accounts, his goal to develop a strategy that cannot be replicated by institutional investors of any size and therefore independent of fads and trends that change too often to provide a consistent approach for individual traders.
His trade recommendations in his Options Income Blueprint, Perpetual Income Portfolio Club and Income Masters services maintain a 98% success ratio, meaning his trades produce the expected income 98% of the time. No one’s perfect.