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July 4th TRADE BULLETIN: Two to Mind For Today’s Expiry (FCX,VXX)
Posted on July 2, 2020
So much coffee…
So little ulcer medication.
We’re coming at you live today from the Indianapolis Motor Speedway, home of the IndyCar Series, with TWO TRADES that require comment.
Gotcha, Jackie.
First up is our FCX initiative, launched on January 14th and subsequently rolled out on June 19th.
As of today, we’re short the July 2nd (today’s) 11 PUT, and FCX closed last eve at $11.49. According to the pre-market numbers, FCX should rise toward $11.72 at the open, so we feel safe leaving things where they are. You may want to check in before the close to ensure the stock remains north of $11, but for now, it looks fine.
Should the PUT expire worthless, the trade will net an $0.08 profit.
And that beats 30 minutes in the sauna with a hair-shirt.
Next is our VXX trade from the 9th of March.
This one was also rolled on June 19th and will expire today.
We’re short thes 47 CALL, and with VXX now at $32.89, We’re all but assured an OTM expiry.
That will leave us with a net take on the trade of $0.17.
Not easy these days…
Back at you shortly with some timely global market commentary.
Stay tuned.
Eschatologically yours,
Alan B. Harvard
2 responses to “July 4th TRADE BULLETIN: Two to Mind For Today’s Expiry (FCX,VXX)”
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Tweets by hughlohaynew
what happened to the vxx trade of 5-6-20?
” Closing One Down and VaXXinating Againest a Market Pullback?”
bs’d
Hi Jimmy.
Two follow-ups on that one.
The first here — https://www.ajewandhismoney.com/climbing-the-wall-of-redemption/trade-bulletin-june-options-expiry-roll-out-the-troublemakers-wing-ko-vxx-fcx-shop/.
The second here — https://www.ajewandhismoney.com/climbing-the-wall-of-redemption/july-4th-trade-bulletin-two-to-mind-for-todays-expiry-fcxvxx/.
By the time the rolling was done, we netted $0.17 on the trade.
Take good care, brother.
Hugh