Posted on March 8, 2021
Bright and breezy blow the winds of wealth this morning, friends.
It’s time to cash in!
We’re closing one down today for a very solid profit of 136%.
It was our Celsius trade (CELH), opened the 24th of December, whose details can be found here.
To summarize, we’re holding the April 16th 55 synthetic PUT and a credit of $0.80.
With CELH now trading at $51.87, the short CALL goes for $6.50 and the long PUT sells for $9.10.
Buy back the former, sell off the latter, and you pull in a grand total of $5.90 on $2.50 spent.
And that amounts to a ten week haul of 136%.
We’d call that some fine spring weather, brother.
And now for today’s effort.
We’re venturing the corporate slave trade this morning with a look at recruitment specialists Korn Ferry (NYSE:KFY), an outfit that’s been moving bodies about the globe for money since 1969.
The company’s shares have moved up strongly over the last month on increasing growth expectations, but, alas!, things got a wee carried away, in our opinion.
We say there’s not much there.
Additionally, we see that
What happens quite often after a dismal quarter is much better sales and earnings are forecasted, leading to momentum traders piling on without thinking, and a bubbly stock price the end result.
We weren’t the only ones to see it, either.
Between February 23rd and March 1st, while the stock was cresting at multi-year highs, insiders sold off just shy of 20% of their holdings, for a cool $12 million.
With kind regards,
Hugh L. O’Haynew