Exits, 4/2/2026
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 Uranium Energy (UEC 0.00%↑). Entered at a net credit of $0.99 as part of a 4-leg hybrid combo on 2/26/2026; exited at a net debit of $1.45 on 4/2/2026. Loss: 30% of max risk (46% on premium collected). Signal: PA Top Names.
Put spread on iShares Silver Trust (SLV 0.00%↑). Entered at a net credit of $2.32 as part of a 4-leg combo on 2/2/2026; the short 3/31/2026 $70 put was assigned, and I sold the resulting shares at $68.34 on 4/1/2026. Profit: 28% (return on max risk: 25%). Signal: PA Top Names.
Put spread on SLB (SLB 0.00%↑). Entered at a net credit of $0.70 as part of a 4-leg hybrid combo on 3/20/2026; exited at a net debit of $0.20 on 3/30/2026. Profit: 71% (return on max risk: 17%). Signal: Market Watchers.
Short call on Almonty Industries (ALM 0.00%↑). Sold-to-open for $1.43 as part of a 4-leg hybrid combo on 2/23/2026; bought-to-close for $0.20 on 3/30/2026. Profit: 86%. Signal: Market Watchers.
Put spread on Alcoa (AA 0.00%↑). Entered at a net credit of $1.79 as part of a 4-leg combo on 2/6/2026; exited at a net debit of $0.20 on 4/1/2026. Profit: 89% (return on max risk: 39%). Signal: PA Top Names.
Short call on Aeluma (ALMU 0.00%↑). Sold-to-open for $2.25 as part of a 4-leg hybrid combo on 3/5/2026; bought-to-close for $0.20 on 3/31/2026. Profit: 91%. Signal: Market Watchers.
Call spread on Lumentum Holdings (LITE 0.00%↑). Bought for $2.10 as part of a 4-leg combo on 1/14/2026; exited the put spread at a net debit of $0.10 on 2/4/2026, and sold the call spread for $16.00 on 4/1/2026. Profit: 662% (return on max risk: 185%). Signal: PA Top Names.
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 nearly doubled that of the SPDR S&P 500 Trust (SPY 1.32%↑) since I launched this Substack in December of 2022.
Options
(Since the market will be closed for Good Friday tomorrow, I’m publishing this week’s exits today)
This week’s exits were a good reminder of why we use these structures in the first place. Even in a market dominated by war headlines, sharp reversals, and elevated volatility, several of our downside-financing legs still worked the way they were supposed to: we were able to peel off put spreads and short calls for solid gains while keeping the longer-dated bullish exposure alive when warranted. That was the case with SLV, SLB, AA, and ALMU, where the financing legs did their job and let us reduce risk or lock in gains without having to abandon the broader thesis immediately.
The standout this week was LITE. There, the put spread came off early for almost nothing, and the remaining call spread ultimately delivered a very large gain. That trade is a good example of why it can make sense to stay patient with the bullish leg after the downside hedge has been removed: once the financing piece has done its work, the remaining upside exposure can become very powerful if the story keeps improving.
The blemish this week was UEC. That one is a reminder that even when the broader theme remains intact, near-term downside legs can still go against us if the stock weakens into expiration. More broadly, though, this week’s exits reinforce the same lesson as last week’s: our best results tend to come when we combine a strong underlying thesis with disciplined entry filters and preset exit orders, and then let the structure do its work.