Out of the DLTR spread at $0.80, for a gain of 78%. The stock's trading above our call spread, so if it stays there on Friday, you ought to be able to get out of this spread for closer to $1, but I exited today in case the stock pulls back before then.
FTCH announced at the last minute that they would no longer be reporting earnings today. Recall that a couple of weeks ago we had a (bullish) trade on FSR, which delayed its earnings report at the last minute, and on news of that, the stock tanked about 10%.
In this case, FTCH cleverly leaked a report yesterday that its founder "may" take the company private, which made the stock pop 23% on the day. Then they cancel their earnings report at the last minute and say previous forecasts should no longer be relied upon. https://archive.ph/5NSeT#selection-1021.140-1021.203
Out of the FTCH spread at $0.48, for gain of 66%.
Out of the DLTR spread at $0.80, for a gain of 78%. The stock's trading above our call spread, so if it stays there on Friday, you ought to be able to get out of this spread for closer to $1, but I exited today in case the stock pulls back before then.
FTCH announced at the last minute that they would no longer be reporting earnings today. Recall that a couple of weeks ago we had a (bullish) trade on FSR, which delayed its earnings report at the last minute, and on news of that, the stock tanked about 10%.
In this case, FTCH cleverly leaked a report yesterday that its founder "may" take the company private, which made the stock pop 23% on the day. Then they cancel their earnings report at the last minute and say previous forecasts should no longer be relied upon. https://archive.ph/5NSeT#selection-1021.140-1021.203
Seems pretty sketchy.
I guess I'm not the only one who found that sketchy: the stock is down about 49% now.