Exits, 10/23/2026

How we did on the trades we exited this week.

Oct 23, 2026

Our year-to-date trade performance through October 23rd appears below.

2026 YTD: 278 fully exited trades through October 23, 2026; win rate 49.3%; average return on original maximum risk +20.6%; average duration 144 calendar days; average winner +109.9%; average loser -66.3%; illustrative simple annualized return +52.1%, assuming continuously deployed equal-risk capital. Before fees.

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. Starting in July, 2024, I have also been tracking them in a spreadsheet. These are the trades I exited this week.

Clicking on one of the exit cards should take you to the original alert where we mentioned the trade; exits will be documented in the comments on the dates they occurred.

Stocks or Exchange Traded Products

We had no stock or exchange-traded-product exits this week.

Options

We completed full exits in two trades and partial exits in nine others. The component cards show returns on the calls or put spread that closed.

1. Put Spread On indie Semiconductor (INDI). Partial Exit. −100.0% RETURN ON RISK. Entered on 5/13/2026 at a net credit of $0.4325 per pair. Four November 20, 2026 $4/$3 put-spread pairs were resolved at their $1.00 width on 10/21/2026 through assignment and protective-put exercise. Loss on closed-pair risk: $227. 161 calendar days. Signal: Market Watchers. Before fees.

2. Put Spread On Nova (NVMI). Partial Exit. −100.0% RETURN ON RISK. Entered on 5/18/2026 at a net credit of $4.44. One November 20, 2026 $450/$440 put-spread pair was resolved at its $10.00 width on 10/23/2026 through assignment and protective-put exercise. Loss on closed-pair risk: $556. 158 calendar days. Signal: Market Watchers. Before fees.

3. Long Calls On Biohaven (BHVN). Partial Exit. −39.9% PREMIUM RETURN. Entered on 8/11/2026 at a net debit of $2.58 per call. Sold two January 15, 2027 $20 calls to close on 10/22/2026 for $1.55 each. 72 calendar days. Signal: Multibaggers. Before fees.

4. 4-Leg Hybrid Combo On Occidental Petroleum (OXY). Full Exit. +1.5% RETURN ON MAX RISK. Entered on 5/1/2026 at a net debit of $1.75. Bought back the short call at $0.20 on 6/18/2026; exited the put spread at a $0.20 net debit on 8/10/2026. Sold the November 20, 2026 $65 call for $2.25 on 10/23/2026. Net closing proceeds: $1.85. 5.7% return on net outlay. 175 calendar days. Signal: PA Top Names. Before fees.

5. 4-Leg Combo On Advanced Micro Devices (AMD). Full Exit. +37.2% RETURN ON MAX RISK. Entered on 7/07/2026 at a net credit of $2.75. Exited the put spread at a $0.20 net debit on 10/06/2026 and the call spread at a $0.15 net credit on 10/19/2026. 98.2% return on net premium. 104 calendar days. Signal: Market Watchers. Before fees.

6. Short Call On The GEO Group (GEO). Partial Exit. +82.9% PREMIUM RETURN. Entered on 9/4/2026 at a net credit of $1.17. Exited one January 15, 2027 $40 short call on 10/22/2026 at $0.20. 48 calendar days. Signal: PA Top Names. Before fees.

7. Short Call On SSR Mining (SSRM). Partial Exit. +91.3% PREMIUM RETURN. Entered on 9/8/2026 at a net credit of $2.30. Bought-to-close one January 15, 2027 $50 call on 10/23/2026 for $0.20. 45 calendar days. Signal: Chartmill. Before fees.

8. Short Call On United Airlines Holdings (UAL). Partial Exit. +97.3% PREMIUM RETURN. Entered on 7/21/2026 at a net credit of $7.38. Exited one December 18, 2026 $140 short call on 10/19/2026 at $0.20. 90 calendar days. Signal: Market Watchers. Before fees.

9. Short Calls On Alpha Cognition (ACOG). Partial Exit. +97.8% PREMIUM RETURN. Entered on 8/18/2026 at a net credit of $2.29. Exited three November 20, 2026 $15 short calls on 10/19/2026 at $0.05 each. 62 calendar days. Signal: Multibaggers. Before fees.

10. Short Call On Viavi Solutions (VIAV). Partial Exit. +97.9% PREMIUM RETURN. Entered on 6/4/2026 at a net credit of $9.55. Exited one January 15, 2027 $70 short call on 10/22/2026 at $0.20. 140 calendar days. Signal: Top Names. Before fees.

11. Short Call On Applied Optoelectronics (AAOI). Partial Exit. +99.5% PREMIUM RETURN. Entered on 6/22/2026 at a net credit of $39.75. Exited one December 18, 2026 $230 short call on 10/22/2026 at $0.20. 122 calendar days. Signal: Top Names. Before fees.

Comments

Stocks or Exchange-Traded Products

We had no exits this week, but the performance of our Top Names remains strong. Across Portfolio Armor’s 173 completed weekly cohorts of Top Names, the average six-month unhedged return was 18.00%, compared with 9.91% for SPY over the same periods. The latest completed cohort began on April 16th, 2026.

Average six-month unhedged stock returns across 173 completed weekly Portfolio Armor Top Names cohorts: 18.00%, versus 9.91% for SPY over the same periods. Latest completed cohort began April 16, 2026. — Average six-month unhedged returns across 173 completed weekly Top Names cohorts. Latest completed cohort began April 16, 2026. Source: Portfolio Armor.

Options

indie Semiconductor and Nova show the risk we take when put-spread credits help finance bullish calls. After the short puts were assigned, we exercised the protective puts and realized the maximum loss on each put spread. indie’s long calls and Nova’s call spread remain open.

Advanced Micro Devices gave us a profitable example of that financing. Its put spread earned $386, more than offsetting the $116 loss on its call spread. The full trade earned $270, or 37.2% on our original maximum risk, before fees.

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