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Two Brief Follow Ups
Before we get to this week’s exits, a couple of follow ups on previous posts.
Back in March, I bought puts on BRC, Inc. ( BRCC 0.00%↑ ), as I mentioned in this post.
The company beat earnings and revenue estimates this week, but it’s still losing money and the stock drifted lower after earnings. I’m still holding those puts.
Also back in March, I bought calls on the bullish ProShares Ultra Bloomberg Natural Gas ETF ( BOIL 0.00%↑ ), even though, as I noted at the time, its opposite number, the bearish ProShares UltraShort Bloomberg Natural Gas ETF ( KOLD 0.00%↑ ) was one of the Portfolio Armor website’s top ten names at the time.
As I noted elsewhere in March, the Portfolio Armor security selection algorithm has had a tendency to stay bullish on leveraged ETFs for longer than it should. Apparently, that wasn’t the case this time, as KOLD kept climbing after March.
I’m still long those BOIL calls though.
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. These are the trades I exited this week:
Stocks or Exchange Traded Products
None.
Options Trades
Put spread on Fisker, Inc. ( FSR 0.00%↑ ). Entered at a net debit of $0.48 and exited at a net credit of $0.54, as noted here. Profit: 12.5%.
Call spread on Affirm, Inc. ( AFRM 0.00%↑ ). Entered at net debit of $0.44 and exited at a net credit of $0.50, as noted here. Profit: 13.6%.
Other call spread on Affirm, Inc. ( AFRM 0.00%↑ ). Entered for a net debit of $0.48; exited for a net credit of $0.53 as noted here. Profit: 9.4%.
Put spread on Fulton Financial ( FULT 0.00%↑ ) Entered at a net debit of $0.28 and exited half of the position for a net credit of $0.75 as noted here. Profit: 168%.
Call spread on Unity, Inc. ( U 0.00%↑ ). Entered at a net debit of $0.41 and exited at a net credit of $0.85, as noted here. Profit: 107%.
Call spread on Light & Wonder, Inc. ( LNW 0.00%↑ ). Entered at a net debit of $1.35 and exited at a net credit of $2, as noted here. Profit: 48%
I’m in the red on four earnings trades from this week that don’t expire until next Friday, so I’m holding them to try to exit at better prices next week. In any case, they’ll all appear in next week’s exits post.
I should have some new earnings trades for you on Monday.
Have a great weekend.
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