Exits, 9/13/2024
Exits, 9/13/2024
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
None
Options
Call spread on AST SpaceMobile (ASTS 11.15%↑). Entered at a net credit of $0.70 on 8/14/2024; expired worth $1 on 9/13/2024. Loss: 100%.
Comments
Stocks or Exchange Traded Products
No exits this week. So far, we have 6-month returns for 63 weekly top names cohorts since we started this Substack at the end of December, 2022. Since then, our top names have averaged returns of 19.94% over the next six months, versus SPY’s average of 12.67%, as you can see here.
Options
This trade was credit call spread on a technically overbought competitor to Starlink, the satellite communications subsidiary of Elon Musk’s SpaceX.
If the stock closed below $26 today, we would have made about 200%, and if it closed above $27, we would lose 100%. Despite trading under $25 yesterday morning, the stock spiked today and closed at $29.83, so we lost 100%.
Hopefully, we’ll have better luck on the bullish side with our Friday The 13th Lottery Tickets.
As a reminder, if you are looking to limit your downside risk, you can download our iPhone hedging app below.
