Exits, 4/24/2026
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
3-leg combo on Hyliion Holdings (HYLN 0.00%↑). Entered at a net debit of $0.40 on 10/7/2025. The $1.50 puts expired worthless on 11/21/2025, the $2 puts were assigned on 11/24/2025, the $3 calls expired worthless on 4/17/2026, and the assigned shares were sold at $1.92 on 4/24/2026. Loss: 53% of max risk (120% on premium outlay). Signal: Multibaggers.
Put spread on Lightwave Logic (LWLG 0.00%↑). Entered at a net credit of $0.25 as part of a 4-leg hybrid combo on 3/31/2026; exited at a net debit of $0.06 on 4/22/2026. Profit: 76% (return on max risk: 25%). Signal: Market Watchers.
Put spread on ATI (ATI 0.00%↑). Entered at a net credit of $1.22 as part of a 4-leg combo on 3/24/2026; exited at a net debit of $0.20 on 4/21/2026. Profit: 84% (return on max risk: 27%). Signal: PA Top Names.
Put spread on Viavi Solutions (VIAV 0.00%↑). Entered at a net credit of $1.40 as part of a 4-leg hybrid combo on 3/20/2026; exited at a net debit of $0.20 on 4/24/2026. Profit: 86% (return on max risk: 33%). Signal: Market Watchers.
Put spread on Amkor Technology (AMKR 0.00%↑). Entered at a net credit of $1.58 as part of a 4-leg hybrid combo on 3/2/2026; exited at a net debit of $0.20 on 4/22/2026. Profit: 87% (return on max risk: 57%). Signal: PA Top Names.
Put spread on Synaptics (SYNA 0.00%↑). Entered at a net credit of $1.52 as part of a 4-leg hybrid combo on 3/27/2026; exited at a net debit of $0.20 on 4/24/2026. Profit: 87% (return on max risk: 38%). Signal: Market Watchers.
Put spread on Teradyne (TER 0.00%↑). Entered at a net credit of $1.85 as part of a 4-leg combo on 3/17/2026; exited at a net debit of $0.20 on 4/21/2026. Profit: 89% (return on max risk: 35%). Signal: PA Top Names.
Put spread on Ouster (OUST 0.00%↑). Entered at a net credit of $2.20 as part of a 4-leg hybrid combo on 11/19/2025; exited at a net debit of $0.20 on 4/22/2026. Profit: 91% (return on max risk: 111%). Signal: PA Top Names.
Put spread on Coherent (COHR 0.00%↑). Entered at a net credit of $2.34 as part of a 4-leg combo on 3/30/2026; exited at a net debit of $0.20 on 4/21/2026. Profit: 91% (return on max risk: 80%). Signal: PA Top Names.
Put spread on MACOM Technology Solutions (MTSI 0.00%↑). Entered at a net credit of $1.75 as part of a 4-leg combo on 2/6/2026; exited at a net debit of $0.15 on 4/23/2026. Profit: 91% (return on max risk: 49%). Signal: Market Watchers.
Put spread on Nektar Therapeutics (NKTR 0.00%↑). Entered at a net credit of $2.25 as part of a 4-leg hybrid combo on 2/13/2026; exited at a net debit of $0.20 on 4/20/2026. Profit: 91% (return on max risk: 41%). Signal: Multibaggers.
Short call on Personalis (PSNL 0.00%↑). Sold-to-open at $2.42 as part of a 4-leg hybrid combo on 3/5/2026; bought-to-close at $0.20 on 4/20/2026. Profit: 92%. Signal: Market Watchers.
Calls on Navitas Semiconductor (NVTS 0.00%↑). Bought at $2.36 as part of a 3-leg combo on 12/8/2025; sold half at $7.50 on 4/22/2026. Profit: 218%. Signal: PA Top Names.
4-leg combo on ASML Holding (ASML 0.00%↑). Entered at a net debit of $2.45 on 3/19/2026. Exited the put spread at a net debit of $0.20 on 4/14/2026, and exited the call spread at $8.00 on 4/20/2026. Profit: 218% (return on max risk: 72%). Signal: PA Top Names.
4-leg combo on Advanced Micro Devices (AMD 0.00%↑). Entered at a net debit of $2.45 on 3/31/2026; exited the put spread at a net debit of $0.20 on 4/13/2026, and exited the call spread at $8.00 on 4/24/2026. Profit: 218% (return on max risk: 72%). Signal: Chartmill.
Risk-reversal on Perspective Therapeutics (CATX 0.00%↑). Entered at a net debit of $0.55 on 10/21/2025. The $2.50 puts were assigned on 1/16/2026, the $5 calls expired worthless on 4/17/2026, and the assigned shares were sold at $4.59 on 4/24/2026. Profit: 280% (return on max risk: 50%). Signal: Multibaggers.
4-leg combo on Rambus (RMBS 0.00%↑). Entered at a net debit of $1.50 on 1/7/2026; exited the put spread at a net debit of $0.20 on 2/18/2026, and exited the call spread at $16.00 on 4/24/2026. Profit: 953% (return on max risk: 220%). Signal: PA Top Names.
Risk-reversal on Nurix Therapeutics (NRIX 0.00%↑). Entered at a net credit of $0.25 on 10/6/2025. The $12.50 puts were assigned on 10/14/2025, sold half of the $12.50 calls at $5.00 on 11/20/2025, sold the other half at $4.60 on 4/17/2026, and sold the assigned shares at $16.69 on 4/24/2026. Profit: 3,696% (return on max risk: 75%). Signal: Multibaggers.
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
17 Profitable Exits Out Of 18
Some of the gains we harvested this week were from seeds planted during periods of higher market fear. Several of the names on this list were entered in the back half of March, when the Iran war was pushing oil higher, stoking inflation fears, and knocking stocks around. The market hit a six-month low on March 20, and even by March 31 stocks were still trading on de-escalation headlines after a brutal quarter. That’s worth keeping in mind when you look at exits such as AMD, Coherent, Synaptics, Viavi, and Amkor. In a fearful tape, it is easy to talk yourself out of planting anything. This week’s exits are a reminder that some of the best gains come from positions opened when the news still feels bad and the macro backdrop still looks shaky.
The other obvious theme this week is semis. In yesterday’s Intel post, I noted that we have been finding opportunities not just in one chip stock, but across the broader AI build-out and reindustrialization themes.
Intel’s report reinforced that point: it beat expectations on revenue, earnings, Data Center and AI revenue, and forward guidance, helping lift a number of other chip names too. That gave us a nice backdrop for cashing in a couple of other chip trades in the wake of Intel’s blockbuster report, including AMD and Rambus, while this week’s partial exit in Navitas and wins in names such as ASML, Viavi, Synaptics, MACOM, and Coherent underscored the same broader point. This hasn’t been a one-stock story. We’ve been harvesting gains across the semiconductor stack.
What I like about this week’s exits is that they also show the different ways these trades can work. In several cases, the financing put spreads came off for 80%-plus gains. In others, the financing leg had already done its job, and the bigger payoff came later from the bullish side of the structure. And in older trades such as Nurix and Perspective Therapeutics, the road to profit ran through assignment, partial exits, and eventually selling the stock. The common thread is that when the underlying thesis is right and the structure is disciplined, there is often more than one way to get paid.