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TRADE BULLETIN: The Riot Produces Fruit! (FCX)
Posted on November 5, 2019
We’re closing up one trade today, Warren.
Be happy.
Stop warrin’.
It’s our FCX trade from last week.
It’s already producing.
So why wait?
Recall: the letter was called South American Riot Trade, and there we recommended you sell two (2) FCX June 19th 9 PUTs for $0.77 each and buy two (2) FCX June 19th 7 PUTs for $0.26 each. With the $1.02 credit we recommended the purchase of an FCX June 19th 11 CALL for $0.99. Total credit was $0.03.
And now…?
Some five days hence, the 9 PUTs trade at $0.58 and the 7 PUTs go for $0.18. Buy back the former and sell off the latter and you incur a debit of $0.80.
Then sell off your 11 CALL for $1.42, and you step out with $0.65 on absolutely nothing committed. Adjusted for minimal commissions gives you a return of 333% in less than a week.
Good on ya if you went in big.
The war is just beginning.
Eschatologically yours,
Alan B. Harvard
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