Dids/Pexels
This Week’s Trade Exits
As soon as I exit a trade, I note that in the comments of the post where I first mentioned the trade; at the end of the week, I try to track them all in one post. These are the trades I exited this week.
Stocks or Exchange Traded Products
None
Options trades
-
Call on Rivian (RIVN 0.00%↑). Entered at $1.84 on 4/8/2024; exited at $5.55 on 7/12/2024. Profit: 202%.
Comments
First, a housekeeping note: starting last week, I’ve been tracking every trade exit in this spreadsheet, which I’ve also linked to on this Substack’s About page.
Stocks or Exchange Traded Products
No exits this week, but our core strategy continues to perform well, driven by the performance of our top names. We have 6-month returns for 55 weekly top names cohorts since we started this Substack, and on average, they’ve returned 23.27% over the next 6 months, versus 13.04% for the SPDR S&P 500 Trust (SPY 0.05%↑). And as I pointed out last week, your actual returns will likely be higher than that, because in our core strategy, you will be letting your winners run and cutting your losers short.
Options trades
Rivian was one of three beaten-down EV makers we placed bets on back in April.
Trade Alert: EVs
Portfolio Armor. Apr 8
Betting On Three EV-Makers The first one is the most obvious one, Tesla (). Its shares are down about a third year-to-date (YTD). First it missed its Q4 earnings, and then it posted an 8.5% year-over-year decline in 1st quarter deliveries, driven in part by shutdowns of its Giga Berlin factory. Tesla shares were trading at close to $250 at the end of 202…
I sold half of my calls on it on Friday for a 200%+ gain and am playing with the house’s money with the rest.
More By This Author:
Trade Alert: Being Tactical About Tesla
When To Sell Nvidia
Exits - Saturday, July 6
Comments
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