Hello Option Traders.
Looking for some advice and/or critical feedback.
Apologies if my terminology isn't accurate.
I hope my excel sheet is easy to understand.
Started Option Trading in my TFSA with $23,000.
Trying different things to learn how different situations work.
Using RBC Direct Investing Platform. It isn't the greatest but I'm getting use to it.
**Option Trade #1: Shopify - TSX.**
* Shopify went to 238$ (Strike $226) 2 weeks before the expiration date and shares weren't called away. I was expecting them to get called away right when it hit $238.
* I feel this was a great first Option Trade.
* Made a decent premium and my shares were called away giving me my share profit.
**Option Trade #2: Cameco - TSX.**
* Share price dropped the day I bought the shares, so I bought 80 more shares. To lower my average share price during the contract duration. (I would have bought 100 but I only had enough to buy 80.)
* Shares jumped back up. Sold my extra 80 shares for some profit.
* Share price continued to rise. I decided to buy to close my position at a loss because I felt the share profits were a little bit better and I would have saved on the high call away fee.
* Makes me think I should have just bought the shares without doing the options trade.
**Option Trade #3: Agnico Eagle Mines - TSX.**
* Started a new position today.
* Expiration date is this Friday.
* Trying a very short term CC - 3 Days.
**Other questions:**
* Does anyone calculate how much in fees they are paying? Cost me $45 dollars to have my Shopify shares called away. That seems high.
* I'm up 7.64% in a month - is this a good start?
* My premiums are in the negative because of the *Buy to Close* of my 2nd Cameco CC contract. Was this a good move? I'm not quite sure. Makes me think I should just buy and sell the shares instead of trying Options.
* These 3 stocks fluctuate so much that I'm comfortable/confident the shares will bounce back eventually. In the case the shares drop hard, I'll wait it out til they bounce back. Is this gambling or high risk tolerance?
* Is it worth it to try Options with US Stocks in a CAD account? Alphabet? Amazon? Is the conversion rate a big hit?