Posted on October 16, 2019
Sitting in the sukkah, counting out me profits, and having a whale of chag – woo-hoo!
First up, we opened a trade back on September 12th in a letter called What’s on the Investing Menu Today? There, we urged you to sell three (3) FXI October 25th 42.50 CALLs for $0.61 and three (3) FXI October 25th 38.50 PUTs for $0.14. Total credit on the trade was $2.25.
You’ll also recall that in our October 2nd missive we closed out the CALLs by buying them back for $0.11 each.
We’re repurchasing the outstanding 38.50 PUTs for $0.04 apiece.
When all is said and done, we take home $1.80 on $0.45 spent.
That’s a very generous 400% in a mere 34 days.
And that’s no donut shop coffee.
We’re going to close out our EURN/SEA pairing that we opened just six days ago in a mailing called EURN Splashing Everywhere.
We’re doing it because the bet has moved strongly in our favor, and we’re a tad concerned she may snap back just as powerfully in the days ahead.
How’d we do?
Well, the original initiative had you short 100 shares of EURN at $10.49 and purchase 100 shares of SEA, then at $8.99. Total credit per board lot traded was $2.50.
Today, EURN sells for $10.72 and SEA goes for $9.49. Buy back the former and sell off the latter and you’re down $1.23 from your original credit.
In under a week.
The Turks have made their move.
Watch the others now follow.
Alan B. Harvard