Exits, 3/27/2026
How we did on the trades we exited this week.
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 this spreadsheet. These are the trades I exited this week.
Stocks or Exchange Traded Products
None.
Options
Put spread on Credo Technology Group (CRDO 0.00%↑). Entered at a net credit of $2.61 as part of a 4-leg combo on 12/3/2025; exercised and assigned on 3/27/2026. Loss: 100% of max risk (92% on premium collected). Signal: PA Top Names.
4-leg hybrid combo on Photronics (PLAB 0.00%↑). Entered at a net debit of $3.10 on 2/13/2026; bought-to-close the short call at a net debit of $0.20 on 3/5/2026, exited the put spread at a net debit of $0.20 on 3/20/2026, and sold the long calls for $3.10 on 3/23/2026. Profit: 87% (return on max risk: 33%). Signal: Market Watchers.
Put spread on Intuitive Machines (LUNR 0.00%↑). Entered at a net credit of $1.61 as part of a 4-leg hybrid combo on 2/9/2026; exited at a net debit of $0.20 on 3/25/2026. Profit: 88% (return on max risk: 42%). Signal: PA Top Names.
3-leg combo on TechnipFMC (FTI 0.00%↑). Entered at a net debit of $2.05 on 11/20/2025; exited the put spread at a net debit of $0.20 on 3/23/2026 and sold the calls for $17.50 on 3/23/2026. Profit: 744% (return on max risk: 216%). Signal: Chartmill.
Comments
Stocks or Exchange Traded Products
No exits this week, as I haven’t been doing our basic strategy, which involves buying stocks and ETFs, and have been focusing on options instead. Nevertheless, the performance of our system’s top names have more than doubled that of the SPDR S&P 500 Trust (SPY 1.32%↑) since I started this Substack, as I noted in last night’s Top Names post.
You can find the performance of all 143 weekly Top Names cohorts that have finished their 6-month runs here.
Options
One thing worth noting about this week’s exits is that the only real blemish was CRDO, and that one may say as much about our process at the time as it does about the stock itself. When we entered that trade on 12/3/2025, we weren’t yet applying our RSI + Setup screens to new PA Top Names trades—we were only applying them to follow-on Top Names trades and to non-PA names, such as our Market Watchers names. Had we been using those screens then, we might not have taken the CRDO trade at all. We had just exited a profitable CRDO trade the previous day, the stock had spiked, and its RSI had jumped as well. In other words, that new trade may have been less a fresh opportunity than a case of us reaching back into a name that had already made its move.
The other three exits tell a different story. PLAB, LUNR, and FTI all show the value of scaling out of these structures systematically: peeling off short calls and put spreads when we can, and then letting the longer-dated bullish leg do the rest of the work. In FTI especially, that patience paid off in a very big way. More broadly, this week’s exits are a reminder that our best results tend to come when we combine a strong underlying thesis with disciplined entry filters and preset exit orders—rather than chasing a name after it has already gotten extended.