TRADE BULLETIN: Close out your STNG (4/4) Trade NOW!

We’ve got a doozy of a killer of a wham-o-profit on offer from our trade dated April 4^th, 2019.

The letter was called All Ye Shipping Magnates – Salivate!, and there we urged you to put on a transportation based trade that looked as follows –

A Jew and His Gold recommends you consider purchasing the STNG January 15th 2021 20 CALL for $5.90 and selling the STNG January 15th 2021 20 PUT for $6.00.  Total debit on the trade is $0.10.

As you can see, the stock has moved wonderfully –

And today, our profits are fat and fulsome.

We’re closing down because –

1. Price has run up with substantial volume against overhead resistance at the long term (yellow) moving average, and
2. RSI is indicating an overbought situation that we prefer not to see resolved to the downside.

We see little sense in waiting any longer.

The numbers look like this:

The long 20 CALL trades for $8.90 and the short 20 PUT goes for $5.40.  Sell off the former and buy back the latter and you pocket $3.50 on a ten cent deposit in just three short weeks! 

That’s a super-bulk carrier gain of 3400%, friends.

Now go buy a Red Sea yacht.

Many happy returns,

Matt McAbby

Follow @HughLOHaynew