Posted on November 5, 2019
We’re closing up one trade today, Warren.
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.
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.
Alan B. Harvard