12 Comments
May 1, 2023Liked by Portfolio Armor

SFM: you wrote buying 36 and selling 35 calls but it's reversed, right?

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May 1, 2023Liked by Portfolio Armor

That worked, thanks!

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Yes, sorry. Will correct.

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Out of the SFM spread today at $0.75, for a gain of 67%.

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Coinbase is up ~9% after hours after beating on top and bottom lines. Social data was correct again.

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May 4, 2023·edited May 4, 2023Author

Out of the WING call spread today at $6.12, for a profit of ~100% on the trade.

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May 3, 2023·edited May 3, 2023Author

WING released earnings before the market open, beating on the top line, bottom line, and crushing same-store sales (up >20%): https://archive.is/CmokZ The stock closed up 9.35% today, pushing our spread in-the-money. For some reason, I thought they were releasing earnings tomorrow, so I didn't try exiting the trade today. I have a limit order in to do so tomorrow.

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May 1, 2023·edited May 5, 2023Author

Out of my COIN put at $7 today for a ~7% gain. If I knew COIN was going to tank today, I would have set a higher price on my limit order last night. Oh well.

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Feedback on these:

My SFM $35 buy is up 8.63% & $98.57

My SFM $36 Sell is down -24.59% & -$189.44

Can you help me understand why the $36 went down. Do I need to do anything? As I am getting more experienced it is good when you let us know when you exit your trades.

My WING $210 buy is down -13.91% & -93.68

My WING $220 sell is down 0.75% & -$2.69. Do I need to do anything?

My COIN $40 put is up 5.84% & $38.32. Hoping I squeeze more out of it, what do you think?

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Re SFM: look at the stock price after hours, and remember the max gain for the trade is when the stock is above the higher strike price ($36, in this case). I just set a limit order to exit this at a net credit of $0.97 tomorrow; I'll let you know if it gets filled there, or if I have to adjust it lower. Should be a nice gain if the stock price holds around here.

Re the WING spread: its earnings are on Thursday. We'll know what the score is then. I'm not doing anything with it before then.

Re COIN: Remember, its earnings are Thursday and social data is bullish on it. The safe play here, I think, is to take profits before then. We can always bet against it again later.

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When I do the SFM my gains is $0 & my max loss is $1,450. If it's what you suggest, what might I be doing wrong?

I placed the WING trade successfully, and my COIN is up almost 10% today, so glad I held on to it!

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Sorry, my typo there. Fixed.

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