Posted on January 20, 2023
Today’s expiry is a work day at A Jew and His Money.
So let’s get busy.
We start with our AXON endeavor from November 21st. The letter was called Heaping Scorn on the Torturers, and it urged you to sell the AXON January 20th 210/220 CALL spread for $1.40 and buy the AXON January 20th 165/160 PUT spread for $1.60. Total debit was $0.20.
With the stock settling in at $184, it appears all our options will expire worthless.
We’ll take the $0.20 loss on this one and move on.
We’ll also very likely reinstate the trade before long, as it appears ever-so-ready to dump.
Our FLO initiative was launched on November 7th in a dispatch entitled Short on Bread; Need Some Dough, and recommended you sell the FLO January 20th 25/30 CALL spread for $3.05 and buy ten (10) FLO January 20th 25 PUTs for $0.30 each. Total credit was $0.05.
Today, FLO opens at $26.83, and it looks iffy that we’ll reach the all-important $25 mark.
As that will put us on the hook for roughly $2.00 by day’s end, we’re urging you, first, to hold the trade until toward the close, and on any intraday weakness, attempt to sell off all the long PUTs for whatever’s on offer and buy back the short 25 CALL.
Failing that, we recommend you to set the April 21st 25 synthetic short* for a credit of $1.75 (2.35/0.60) and buy the 30 CALL for $0.25 to avoid any runway loss.
That will put the trade at roughly $0.50 in the red and give us three months to profit from the coming downside.
Details of our ACM bet can be found HERE.
In brief, we’ve got a debit of $3.67 and we’re holding the 77.50 synthetic short that expires tonight.
ACTION: buy back the short CALL on any weakness or before the close for roughly $7.50 (full details after the close) and reset the June 16th 75 synthetic short* for a credit of $11 (13.20/2.20).
That will put us at roughly breakeven on the trade and open the downside to profits.
Our POST trade particulars can be found HERE.
Bottom line is we’ve got a credit of $1.70 and are holding the 80 synthetic short expiring tonight.
Buy back the short CALL for $11.20 and set the June 16th 80 synthetic short* for a credit of $10.25 (13.20/2.95).
That will reduce our existing credit to $0.75 and open the downside to profits.
Action on our ABBV initiative is necessary, as the details HERE indicate.
In brief, we’ve got a credit of $2.05 and are holding tonight’s 145 synthetic short.
ABBV is falling hard, but she opens today at $148.71—a wee on the high side.
That means we’ll be on the hook for about $3.95 unless we act.
ACTION: buy back the short CALL for $3.95 and reset the May 19th 145 synthetic short* for a credit of $4.15 (10.50/6.35). That will up our existing credit to $2.25 and keep the downside open to profits.
The lowdown on our HSY trade can be snagged HERE.
Briefly: we’re in possession of a credit of $1.32 and the 165 synthetic short that expires at nightfall.
HSY is looking weak.
Repurchase the short CALL for $53.10 and sell two May 19th 190 CALLs for $29 each.
That will add to our existing credit, bringing it to $6.22 and giving us four months of additional life.
Hang in there, brothers and sisters!
Our BLDR trade sees us with a net credit of $8.59 and in possession of two short 55 CALLs that breathe their last this eve.
So, it’s time to move.
Buy back the CALLs for $15.10 each and resell the May 19th 55 CALLs for $16.80 each.
That brings our credit up to $11.99 and affords us another four months to profit.
Our BG bet’s details are available HERE.
We’re squeezing a credit of $2.39 and holding two 60 CALLs that burn out at today’s close.
ACTION: buy back the short CALLs for $39.60 each and resell two July 21st 55 CALLs for $42 each.
That will raise the existing credit to $7.19 and give us another six months to cash in.
Finally our UNG trade, whose details are HERE.
We’ve got a credit of $1.04 and are short one 22 PUT expiring tonight.
Buy back the PUT for $11.95 and sell the January 19th (2024) 22 PUT for $11.75.
That keeps us in the black by $0.84 and gives us a year to pull it out.
May the Holy One shine his countenance upon us, good Jews and Noahides!
Alan B. Harvard