Posted on July 8, 2021
Before we get to today’s trade, we have one hum-dinger to close.
It was opened less than two months ago, on May 13th, in a communiqué called The Switch Has Been Flicked.
There, we urged you to sell the AYI November 19th 220 CALL for $6.70 and buy the AYI November 19th 140 PUT for $5.80. Total credit was $0.90.
Now, there’s lots of time remaining on the trade, and you could walk with a perfect hamburger of a profit if you held on, but we’re out.
Anything could happen – and greed kills.
The short CALL trades today for $2.25 and the long PUT for $3.30. Buy back the former and sell the latter, and you walk with $1.95 ON NOTHING SPENT!
Adjusted for minimal commissions gives you a 1200% profit in just eight short weeks.
We return to the crap tables today to take on EVRI Holdings Inc. (NYSE:EVRI) a small-cap operation that provides technologies for the gaming and gambling sector and ‘cash access services’ to casinos and their online amoral equivalents.
Some of you will recall that we played EVRI on the upside late last year for a tidy 22% profit.
This time we’re betting on the downside. And we’ve a hunch the winnings will dwarf those of the previous deal.
Let’s start with a look at the fundamentals –
In other words, there’s no meat here at all.
Yet the stock costs more than the ‘Rib-Breaker’ Veal Deal down at Francesco’s Fine Italian Sandwich.
How could it be?
We say it can’t.
Or, rather… that it won’t.
The Al-mighty Living G-d of Israel neither slumbers nor sleeps!
Your destiny is in His hands.
Many happy returns,