 What's going on everybody this is Giovanni from the options trading channel it's been some time since my last video and I have some information to tell you and as this video progresses I promise you it's going to go from terrible to better to good so bear with me as always I apologize for not updating you guys live as the trades happen but let's start out by letting you know there was catastrophic failure in our trades and I'm sure that a lot of people are going to be saying in the back of their in in the back of their minds what they've been saying all along which is I told you so it's the inevitable that this was going to happen catastrophic failure on not one but two trades macy's trade and beyond meat now let me tell you what I think happened and it's all just theory and it's in my opinion but this actually happened and I can show you the trades by all means I will show you the account but I will tell you that we lost on macy's well actually macy's wasn't as bad as by and beyond meat macy's we sold the 20 dollar calls that expired a week or basically four days from the day that we sold them this was naked call options by the way we sold the 20 dollar calls last monday the expired in four days were expiring four days and we sold them at seven cents and this was about the same time it was at the same time that game stop was sort of happening and I'm sure that if you're watching my video by now you know exactly what has been going on in game stop that's why I haven't really said anything about game stop everybody in their mom has covered game stop but basically the short interest in macy's was attractive in in that group that's that ran up game stop and I'm not saying this is what happened this is all in my opinion it was attractive because it was a heavily shorted stock and for no reason the day after uh that's that we sold no two days excuse me two days after we sold those naked call options it ran it ran um I believe from about fifteen dollars something like that uh to over twenty dollars so it went over our strike strike price this was macy's and the only thing that saved our butts and I should have started this conversation uh with beyond me but the only thing that saved our butts on macy's is I was able to purchase 2,500 shares um after the market closed the day before it actually ran I just had this awful feeling in that trade because of game stop and the reason why game stop was was running up and I ended up losing about fifteen uh fifteen thousand dollars on that naked option position sold them at seven ended up buying them back at like 73 cents 74 cents if I remember correctly and I ended up losing about fifteen thousand dollars luckily I held those shares from 16 dollars and 30 cents around there all the way up to 21 dollars and 70 cents almost 22 dollars and so I made back 13,000 dollars out of the 15,000 that I lost and we we came out of that whole trade about two thousand dollars down a little more than two thousand dollars so that wasn't that bad what was bad was beyond meat beyond meat they came out with news the day after that we sold those naked call options I can't remember exactly what what it was the two tens I believe we can look at the screens here in a little bit and the morning after we sold them they came out with news that they made a deal with Pepsi about some snack vegan snack something of that nature healthy snack and it just the stock price jumped up we were down on the account last week on the account as a whole we were down about 30,000 dollars we had it up to about 428 we it was bouncing around 428 429,000 and we we brought it all the way back down you know over 30,000 dollars in losses but with beyond meat what we did was to help salvage that trade we rolled those calls over to February 19 three weeks out in beyond meat we had a 13 we actually incurred a 13 thousand dollar loss it was terrible it was terrible I had a terrible week last week straight and as blunt as I possibly can that is the honest truth that's what happens that's the danger of trading naked call options more than anything call options not put options put options is naked puts are in my mind in my opinion better and not necessarily safer but again if you know what naked options are the difference between calls and puts trading those naked and why it's infinitely more risky riskier is that is that the word to say to trade naked calls because you literally have infinite losses a possibility of infinite losses side note if we hadn't had done anything and just stayed put in those positions it would have worked out both maces and beyond meat ended up coming back down to earth and those options that we sold would have been expiring or they expired worthless but the danger in doing that and not taking action is if it just continues going way above your your strike price you got to pay the difference I mean it's a terrible thing we did the right thing we we covered our butts and that was that oil oil has been absolutely phenomenal our investor is wanting to stay in oil it's not our play I don't claim that it's my play it's I don't claim that oh you know I invested in oil now he from the get-go was like hey here's this chunk of change the only condition is the only limiting factor if you will is you have to invest in oil we have to and he doesn't know anything really about the stock market himself the investor himself he just knew that he wanted to invest in in oil and so I mean it's doing awesome phenomenal it's doing great the account went from literally 420 829 thousand even I mean it dipped down below 390 thousand dollars 30 40 thousand dollars in the hole and I'm here and proud to report that we've made back most of our losses the account is back up up above 420 thousand so we've gained back over 20 25 thousand dollars on the account was still a lot left to collect on the table the other thing is amazon I'm going to show you our trade our naked we have a spread we sold some vertical spreads for amazon and they just came out with earnings they crushed it they absolutely crushed earnings the only uncertainty is that Jeff Bezos is stepping down SEO and I don't know what that's going to do to the price of amazon tomorrow morning but it looks like we're in the clear let me show you all of those trades let's go to the computer screen and I'll talk to you about those trades even the macy's trade beyond meat's trade and amazon trade that we have currently on one last thing is this has been an awesome experience without a doubt I've had so much fun it is very stressful and nerve-wracking to say the absolute least but I'm having a blast doing this it is somebody else's money but I am looking after it as if it were my own the opportunity that I was given is unbelievable and I'm just rolling with it and we're doing really good for the exception of last week last week was our worst week ever absolutely ever we had two stocks go completely against us and we were never expecting that we were expecting maybe you know maybe two three four a year we had two in one week it was a wild week so let's get to the computer screens and let me show you a little bit about what's in our portfolio what positions we hold and then our past terrible trades already and here is the account and I had a comment in my last video that the screen was really tiny and so I ballooned it up and I hope you can actually see it a lot better this time around okay amazon amazon amazon check this out we sold two verticals two different verticals the 3700 calls we sold and we bought the 3710s that expire for this week on this friday 20 of them and we also sold some puts 3050 puts and we bought the 3040 puts verticals here and again 20 of them and then I also sold two 3800 calls these are naked now these are naked 3800 calls all that expired this friday I sold them at 765 currently they closed yesterday or excuse me they closed today today's february 2nd if I haven't mentioned it so I'm up a little bit on that just 20 but tomorrow hopefully they should completely decay not completely they'll be a little bit left on the bone but they should be good and then one four thousand dollar call naked I sold it at 335 down a little bit again 20 so that is the big amazon trade we stand to make about 4700 this week on this play alone let me show you all the other positions that we currently have we are buyers of options of all of these that I'm about to mention just to give you an update just a quick rundown I'm you know this this video is already long enough apple bought three 120 call that expires march at 2070 down quite a bit on it trading at 1690 down 1140 beyond meets we still hold 40 of the 290 calls that expire february 19th but or we sold them at 515 already trading down to 60 and 60 cents 60 and a half cents we still have 2400 left to squeeze out we're up on that position 18000 but those are inaccurate numbers because we as we talked about beyond me we lost quite a bit I'll show you exactly how much we lost on that one docuSign we're up on bought two 3790 trading at 40 dollars IGV bought two 3920 up to 45090 and PWR WAPAL is in its on this one bought two of the 220 that expire march and square bought one I wish I would have bought a ton more but only bought one of the 190 calls that expire february 19th I suspect we're gonna roll over this one and can add add to that that position there bought it at 3205 currently trading at 3845 10 I was down on this one until today bought at 1520 currently trading in 1655 bought five of them with a hundred dollar calls that expire february XBI I believe we just got into this one today this is a spread here bought the 135 calls sold the 150 call expires march five of them and we are down 100 whopping dollars XHB down a little bit as well 50 dollar calls five of them 1180 trading at 1165 XLK I believe we also just bought this one not too long ago I believe and that's a spread that we have going on 114 125 call from march and bought four of them actually I do believe that we bought into these calls today let's move on to the account statement I should know the account is is at 423 768 dollars so we're just five six thousand dollars off the highs of this particular account let's get back to the bad terrible trades I know I'm going through this really fast trying here we go Macy's just I mean these are all the trades these are wow the trades of us buying back all of those calls that we sold at 73 cents it was bad it was absolutely bad here we go this is I'll show you where I bought those shares yep here is we bought them at aftermarket on the 26 about 20 2,500 of 2,500 shares at right around 1630 sold them at 2,175 so I made 13,000 dollars pretty much overnight I mean this was catastrophic failure I definitely want to show you beyond me look at that down for the year 18,000 dollars that we still have about almost three grand to collect and squeeze out of the current position that we're in Macy's see 2,000 about 2,100 dollars we are down so it wasn't as bad it wasn't as bad nearly as bad 10 you know for the year we're down 2,100 so it's not terrible not terrible by any you know stretch of the imagination when you compared to a 420,000 other account beyond me beyond me it was the absolute catastrophic failure there but hey life goes on you you live and you learn I'm learning a crap ton by the style of trading it is it's adding it's adding to my skills to my resume so to speak and I love what I'm doing now two major losses 2,100 each but look at that oil this year oil has been amazing phenomenal and everything else oh silver I didn't even talk to you guys about silver I did trade silver made $3,400 on that all the rumor from the GameStop guys I bought it at 2880 just one and I sold it at 2948 every cent guys every cent that silver moves is $50 it's it's quite phenomenal it takes about $15,000 in margin to trade one of those suckers so I was nervous about it and this was in the middle of the night I did put in a stop loss and it looks like it executed at 440 in the morning on the first so that was that was a wild ride so that's gonna add thank you everybody so much for watching I know this was a much longer video than you're used to but I had a lot of updates to update you on if you like this video I would greatly appreciate it if you hit that subscribe button down below don't forget to thumbs up this video see you guys next time hoping it's a green trade see you guys later