LEVI Crushed It, But We're Going to be Patient
Good morning Titans!
What a week so far, the market is up, it is down, it is back up.
Ok, we've been running Hyperion's Horizon since 2/28 now, so we have some trades in the bank. Here is the start of our running spreadsheet:
I'll look for a better way to share this information so we can have graphs and charts and some statistics as we go, but for now this seems like the best and easiest way to see the past trades for everyone.
I encourage you to use Tiblio's Trade Journal for your own trades as it will provide the expected value calculation for you and track some things like the average credit that you sold options for per ticker symbol.
BP
We're closing the 36 strike put for .05 or less that would otherwise expire on 4/19 banking $32 per contract.
Macy's
Macy's has come back down in price and will allow us to sell the 17 strike put option expiring 2024-05-17 for ~.65. If Macy's closes above 17 on 5/17 we would realize a 3.8% return over 44 days which annualizes to 31.7%!
If M trades below 17 on expiration day, then we'd keep the .65 and we would also be assigned 100 shares at $17.
This trade gets us out of M before their next earnings on 5/30.
LEVI
Levi Strauss just reported earnings and crushed it. They also have an ex-dividend date coming up on 5/8. We'll try to capitalize on this. But first, we're going to let the price settle down for two days. This means that we'll look to open the trade Monday or Tuesday next week.
FL
Foot Locker sold off a bit after we talked about it last week. If you didn't yet get into that trade, you can now sell the 23 strike put option expiring 5/10 for .70. For the rest of us we'll hold on. The same parameters apply that we discussed last time.
Next Week
Bank earnings should be out, we'll look at BAC and KRE.
Disclaimer: The content of this newsletter is provided for informational purposes only and is not intended as financial advice, investment recommendation, or an endorsement of any particular security, strategy, or investment product.