בס״ד

Pierce the Veil! (UNG)

Posted on December 27, 2019

We’re now well into our advanced, year-end, MAD magazine editorial schedule, so you’re getting your damn commodity trade, but post-Boxing Day – holy of holies for those still beholden to the British Commonwealth.

Before we get to the day’s trade, though, we have to address a separate open initiative that now requires your attention.

The trade was opened way back at the end of May, but circumstances forced us to roll it out, and on November 28th we pulled up short the UNG December 27th 21.50 PUT.

As that lass is certain to end up deep-in-the-money on expiration, it’s time to roll her out again.

Buy it back today for $5.00 and sell the UNG April 17th  22 PUT for $5.05.  You add four months play to the trade and a nickel to your credit, for a total of $0.14.

And as for this week’s work…

The idea is brief, it’s a play on mining gargantua VALE S.A. (NYSE:VALE), and the good Lord willing, it’ll be faithfully delivered to your inbox after the Holy Sabbath.

Many happy returns,

Matt McAbby

 

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