Exits, 6/2/2023
How we did on the trades we exited this week.
Slyzyy/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. These are the trades I exited this week:
Stocks or Exchange Traded Products
None.
Options Trades
Puts on First Republic Bank ($FRCB). (The symbol changed from FRC after it went bankrupt). Entered at $1.36 and sold the second half of my position at $2.70, as noted here. Profit: 99%.
Put spread on Fulton Financial (FULT 0.00%↑). Entered at a net debit of $0.28 and sold the second half of my position at $0.35 as noted here. Profit: 20%
Put spread on Ralph Lauren ( RL 0.85%↑). Entered at a net debit of $2.10 and exited at a net credit of $2.90 as noted here. Profit: 38%
Call spread on UiPath, Inc. ( PATH -1.74%↓). Entered at a net debit of $2.05 and exited at a net credit of $2.80, as noted here. Profit: 37%
Comments
In our core strategy, we hold our top ten names until we get stopped out of them, so every week without an exit there is good news. We’ve had some nice winners among top names recently. I mentioned Nvidia (NVDA 0.00%↑) and Super Micro Computer (SMCI 0.00%↑); another recent top name of ours, MongoDB (MDB 0.00%↑) had a big day today, spiking 28% on an earnings beat.
On the options side, we only entered one earnings trade this week, which we haven’t exited yet. Another one we didn’t get filled on. I’ll do some homework over the weekend and see what looks promising for next week.