Lug nut holder and method of use

1. An apparatus comprising:

a base;

a barrel, wherein the barrel is coupled with the base in a manner allowing the barrel to move upwardly or downwardly within the base, the barrel having an internal cam portion comprising an internal cam track;

a lug nut engagement assembly comprising retractable fingers, wherein the lug nut engagement assembly is removeably affixed to the barrel;

a plunger, the plunger having a rod with a tip for engagement with the retractable fingers, and the plunger having a lip portion disposed about the rod;

a cam guide, the cam guide having longitudinal rails for engagement with the internal cam track of the barrel, wherein the internal cam track has alternating positions spaced about the internal cam track, and wherein the cam guide is rotatable within the barrel and moveable upwardly and downwardly as the longitudinal rails move through the alternating positions; and

a first spring disposed between the cam guide and the lip portion.

2. The apparatus of claim 1 , the base comprising base mounting holes, and one or more protrusions disposed about an interior surface wall of the base.

3. The apparatus of claim 2 , the barrel comprising one or more external longitudinal barrel recessed portions, wherein the one or more external longitudinal barrel recessed portions are configured to engage with the one or more protrusions.

4. The apparatus of claim 1 , the cam guide comprising an opening longitudinally disposed internally throughout the cam guide, the opening configured for receiving the plunger.

5. The apparatus of claim 1 , wherein the tip is a cone-shaped tip, wherein when the cone-shaped tip engages with the retractable fingers, the retractable fingers are pushed outwardly for engagement with a lug nut.

6. The apparatus of claim 1 , further comprising a second spring disposed around a first portion of the plunger and above the lip portion of the plunger.

7. The apparatus of claim 1 , the lug nut engagement assembly further comprising a top portion having a hole disposed therein, and a slot disposed in the top portion, a pin positioned within the hole for securing the retractable fingers within the slot and allowing the retractable fingers to move inwardly and outwardly in the slot.

8. The apparatus of claim 1 , wherein the alternating positions have a first depth and a second depth.

9. The apparatus of claim 8 , the internal cam track further comprising multiple edges disposed in alignment with a vertical plane of the barrel, and multiple edges disposed in an angular alignment with the vertical plane of the barrel.

10. The apparatus of claim 1 , wherein the barrel has a threaded portion, and the lug nut engagement assembly has a thread portion, the threaded portion of the barrel and the thread portion of the lug nut engagement assembly being configured for removeably attaching the barrel to the lug nut engagement assembly.

11. The apparatus of claim 1 , wherein the plunger is disposed within a portion of the lug nut engagement assembly, within a portion of the barrel and within a portion of the cam guide.

12. The apparatus of claim 1 , wherein the lip portion engages with a top portion of the cam guide.

13. The apparatus of claim 1 , wherein the base further comprises an internal ring of teeth configured to set the longitudinal rails.

14. The apparatus of claim 1 , wherein the alternating positions comprise alternating upper positions and lower positions, and when the longitudinal rails are engaged in the alternating upper positions the retractable fingers are moved to an extended position, and when the longitudinal rails are engaged in the alternating lower positions the retractable fingers are moved to a retracted position.