Exits, 11/8/2024
How we did on the trades we exited this week.
Dids/Pexels
This Week’s Trade Exits
As soon as I exit a trade, I note that in the comments of the post where I first mentioned the trade; at the end of the week, I try to track them all in one post. Starting in July, 2024, I have also been tracking them in this spreadsheet. These are the trades I exited this week.
Stocks or Exchange Traded Products
Lantheus Holdings (LNTH 0.00%↑). Bought at $94.84 on 8/16/2024; stopped out at $96.99 on 11/6/2024. Profit: 2.3%.
Orla Mining (ORLA 4.11%↑). Bought for an effective price of $2.90 on 11/17/2023 (I sold $5 strike puts on it for $2.10, and those puts exercised on 11/17/2023); sold for $4.60 on 11/7/2024. Profit: 59%.
Options
Call spread on Super Micro Computer (SMCI -9.10%↓). Entered at a net debit of $0.33 on 11/4/2024; expired worthless on 11/8/2024. Loss: 100%.
Call spread on Advanced Micro Devices (AMD -0.05%↓). Entered at a net debit of $1.65 on 10/9/2024; expired worthless on 11/8/2024. Loss: 100%.
Calls on IAMGOLD (IAG 0.96%↑). Bought for $0.75 on 10/8/2024; sold (second half) for $1.15 on 11/7/2024. Profit: 53%.
Calls on Emergent BioSolutions (EBS -0.09%↓). Bought for $2.05 on 8/30/2024; sold for $4.10 on 11/7/2024. Profit: 100%.
Call spread on TG Therapeutics (TGTX 2.33%↑). Entered at net debit of $0.33 on 8/30/2024; exited at a net credit of $0.94 on 11/8/2024. Profit: 184%.
Call spread on Tesla (TSLA 9.19%↑). Entered at a net debit of $1.63 on 4/8/2024; exited at net credit of $4.74 on 11/8/2024. Profit: 191%.
Call spread on Innodata ( INOD 31.81%↑ ). Entered at $0.33 on 8/13/2024; exited at $0.97 on 11/8/2024. Profit: 194%.
Call spread on Powell Industries (POWL -2.81%↓). Entered at a net debit of $1.60 on 8/13/2024; exited at a net credit of $4.75 on 11/7/2024. Profit: 197%.
Calls on Travelzoo (TZOO -2.69%↓). Bought at $1 on 7/23/2024; sold (half) at $8.30 on 11/6/2024. Profit: 730%.
Comments
I decided to take profits on the two gold names here, ORLA and IAG, for reasons I elaborated on here, After Trump Win, Time To Take Profits On Gold. More generally, Trump’s victory was a tailwind for small caps this week, and one reason we had so many profitable exits (most of these positions had GTC limit orders to exit that were hit this week). The one exception was SMCI, which stumbled a bit after the company didn’t announce a timeline to get a new auditor on its earnings call this week.
The Beneish M-Score
The Beneish M-Score is a statistical model used to estimate the odds that a public company is manipulating its earnings. There’s an online calculator at Professor Beneish’s university, but it requires you to enter in a couple of dozen fields from a company’s filings to complete.
If I can get another 15 or 20 subscribers to the Portfolio Armor web app this year, I will pay my software developers to add a Beneish M-Score calculator to the site, where you just enter a company’s ticker symbol and it populates all the fields itself.
If You Are Concerned About Downside Risk
As a reminder, you can download our iPhone hedging app by clicking on the QR code below or aiming your iPhone camera at it.
