Trade Alert: Adjustments

Adjusting a few open trades in light of Sunday night's futures.

A Rare Overnight Trade Alert

I’m sending this one out before market hours because I’ve decided to adjust a few open trades in light of what looks to be another down day.

The first two trades are from our post on Friday.

I’ve just lowered the strikes on the HIMS trade by $2.

Blood In The Streets Trade #1

The stock is Hims & Hers Health (HIMS 0.00%↑), and our trade is a vertical spread expiring on May 9th, buying the $28 strike puts and selling the $30 strike puts, for a net credit of $1.30. The max gain on 4 contracts is $540, the max loss is $280, and the break even is with HIMS at $28.70. This trade hasn’t filled yet.

And lowered the strikes on the FUTU trade by $5.

Blood In The Streets Trade #2

The stock is Futu Holdings (FUTU 0.00%↑), and our trade is a vertical spread expiring on June 20th, buying the $95 strike puts and selling the $100 strike puts, for a net credit of $3. The max gain on 2 contracts is $600, the max loss is $400, and the break even is with FUTU at $97. This trade hasn’t filled yet. This trade filled at $3 on 3/31/2025.

And the third open trade is from this post last week:

I’m lowering the strike on these HOOD calls by $2. This puts our break even on the stock at $34, which is about its 200-day exponential moving average, which seems like a plausible near-term bottom for it.

The stock is Robinhood Markets (HOOD 0.00%↑), which I think would be a great long term holding if we can get it in the $30s. So I placed a GTC order to sell the $38 strike put on it expiring on May 9th for $4. If that put gets exercised, I will have effectively bought the stock for $34. The max gain on one contract is $400, the max loss is $3,400 (assuming the put gets exercised, and then the stock goes to zero), and the break even is with HOOD at $34. This trade hasn’t filled yet. This trade filled at $4.30 on 4/3/2025.

The fourth open trade is from this post, earlier this month:

I’ve canceled the original trade, which was a call spread, and placed this put spread instead:

The stock is Spotify (SPOT 0.00%↑), and our trade is a vertical spread expiring on May 2nd, buying the $540 strike puts and selling the $545 strike calls for a net credit of $3. The max gain on 2 contracts is $600, the max loss is $400, and the break even is with SPOT at $542. This trade hasn’t filled yet.

That’s it for the adjustments of open trades for now.