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TRADE BULLETIN: 2 Trades to Tend Today – Unsheathe the Abacus! (FXI,EURN,SEA)

Posted on October 16, 2019

Sitting in the sukkah, counting out me profits, and having a whale of chag – woo-hoo!

And now down to business…

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.

And today?

We’re repurchasing the outstanding 38.50 PUTs for $0.04 apiece.

So…

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.

And in the big wide world…?

The Turks have made their move.

Watch the others now follow.

Eschatologically yours,

Alan B. Harvard

 

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