Posted on September 25, 2020
To begin with –
For all those involved in the WKHS trade, we got bought in at $26 back on September 17th and sold back out yesterday for the same $26.
ACTION: Reset the STOP buy again at $26.
This ensures us a profit should WKHS trend northward (and saves us from a loss).
Our short NVDA straddle closes today with just the CALLs in the money.
ACTION: Wait for as late as possible before you close out both CALLs (the long October, too), and leave the long October PUT to gather steam (the short September PUT will almost certainly expire worthless).
As of last night’s close, the short September CALL traded at $25 and the long October CALL at $38.80. Buy the first, sell off the second, and you take in $13.80 on the high side of the trade.
You’ll likely do better than that, but that’s how we’re booking it.
Our QQQ trade – sent to all readers two weeks ago, and due to expire later today – is a bit of a humdinger.
As of last night’s close the long 270 PUT was at $4.66 and the short 265 PUT at $1.75. And that’s how we’re booking it. A gain of $2.91 on $1.52 spent, or 91%.
That said, futures at 4 a.m. are flat to slightly higher, and we’ll be heading into the Holy Sabbath by the time trading opens stateside, so the close is yours and yours alone.
Play it prudently.
Either close early or use a contingent order predicated on the pair’s credit declining to $2.00 or $1.50 – or whatever you feel gives you the greatest play.
And best of British luck to all.
Our PG/VDC trade requires one side to be closed – the CALLs.
The PG 135 CALL trades for $3.90 and the VDC 163 CALL trades for $2.25. Sell the first, buy back the second, bring home $1.65 and wait for the PUT side for more.
May you all have an easy, meaningful fast. And may the Holy One grant us another annum de divitiis.
Alan B. Harvard