April is the Most Merciful Month: OPEX delivers 1433% (MMS, NVS, FLO, XOM)

We start with our MMS trade from February 16^th.

The trade was first worked on March 13^th, when we sold the MMS PUT spread to sit on a cushy $2.25 credit.

The CALL spread we left open.

And today it rots.

That leaves us our $2.25 on NOTHING initially laid out.

And that’s a wondrous 1433% in just two months.

On January 23^rd Big Pharma Felons arrived in your inbox, entreating you to sell the NVS April 21^st 90/92.50 CALL spread for $0.90 and buy the NVS April 21^st 90/87.50 PUT spread for $1.15.  Total debit was $0.25.

Today, our CALL spread is in-the-money, so we’re encouraging you to buy back the short CALL for $6.70 and sell two (2) NVS October 20^th 100 CALLs for $4.20 each in its place.

That will flip our debit to a credit of $1.45 and give us life for another six months.

Moving right along…

Details of our FLO trade can be found HERE.

In brief, we’re holding a debit of $0.50 and the 25 synthetic short expiring this eve.  We also bought the April 21st 30 CALL to avoid any runway loss.

As we speak, the short 25 CALL is ITM, so we’re taking the following action:

We’re buying it back for $2.20 and selling two (2) FLO October 20^th 25 CALLs for $2.60 each.

That puts us in the black by $2.50 and gives us half a year to pull out a winner.

Our XOM bet, whose particulars can be accessed HERE, sees us with a $1.52 credit and holding the 82.50 synthetic short that withers at nightfall.

As of last night’s close, our short CALL is in-the-money, so we’re forced to act thus—

Buy it back for $33.35 and sell two (2) XOM October 20^th 100 CALLs for $19.40 each.

That will expand our credit to $4.97 and give us another six months to pull out a profit.

May the G-d of Israel ever guide all good

Jews and Noahides through the darkness!

Eschatologically yours,

Alan B. Harvard

Follow @HughLOHaynew