Exits, 4/4/2025
How we did on the trades we exited this week.
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. 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
Calls on Celestica (CLS -4.21%↓). Bought for $1.55 on 3/27/2025; expired worthless on 4/4/2025. Loss: 100%.
Calls on Hims & Hers Health (HIMS -7.41%↓). Bought for $1.78 on 3/27/2025; expired worthless on 4/4/2025. Loss: 100%.
Calls on Robinhood Markets (HOOD -10.36%↓). Bought for $1.96 on 3/27/2025; expired worthless on 4/4/2025. Loss: 100%.
Calls on Lemonade (LMND -6.14%↓). Bought for $2.45 on 3/6/2025; expired worthless on 4/4/2025. Loss: 100%.
Calls on Palantir Technologies (PLTR -12.08%↓). Bought for $1.50 on 3/28/2025; expired worthless on 4/4/2025. Loss: 100%.
Credit put spread on Spotify (SPOT -9.90%↓). Entered at a net credit of $8 on 4/1/2025; still open, but looks like we’ll exit at a net debit of $10 on 4/4/2025. Loss: 100%.
Calls on Spotify (SPOT 0.00%↑). Bought for $1.67 on 4/1/2025; sold (second half) for $4 on 4/3/2025. Profit: 2%
Puts on Arm Holdings (ARM -4.02%↓). Bought for $1.82 on 4/2/2025; sold (half) for $4 on 4/3/2025. Profit: 120%.
Puts on MacroGenics (MGNX -4.49%↓). Bought for $1.30 on 9/9/2024; sold for $2.90 on 4/3/2025. Profit: 123%.
Calls on Broadcom (AVGO 0.00%↑). Bought for $1.74 on 4/2/2025; sold (half) for $4 on 4/3/2025. Profit: 130%.
Calls on Spotify (SPOT 0.00%↑). Bought for $1.67 on 4/1/2025; sold (half) for $4 on 4/2/2025. Profit: 140%.
Credit call spread on Tesla (TSLA -9.96%↓). Entered at a net credit of $7.50 on 4/1/2025; exited at a net debit of $0.20 on 4/4/2025. Profit: 292%.
Puts on Nvidia ( NVDA -8.02%↓). Bought for $1.17 on 4/2/2025; sold (half) for $5.80 on 4/4/2025. Profit: 396%.
Comments
Exits 1-5 were bullish trades we entered before this week. All losses. Exit 9 was on a bearish trade we entered last fall. The rest of these trades, 6-13, excluding 9, were ones we placed this week. Of the seven trades we placed this week, six were profitable.
The trade we lost money on, our credit call spread on Spotify (SPOT 0.00%↑), was the bullish half of our binary outcome pair of trades on the market post-”Liberation Day” (President Trump’s tariff announcement).
We made 292% on the bearish half of that pair of trades, a credit put spread on Tesla (TSLA -9.96%↓).
An Unprecedent Market Environment
Earlier today, I asked our friend David Janello, PhD, CFA a question about closing that TSLA spread. He wrote back that,
Bear market rallies can be vicious, but this market is different, it is straight down.
Bearing in mind that Dr. Janello has been trading options for fifty years, this seems like an unprecedented market environment. On the plus side, that means we should have some unprecedented opportunities to make money. Over the weekend, we’ll share a guest post from Dr. Janello about a way we can do that if the market takes an even steeper leg down.
In the meantime, as a reminder, as a reminder, you can download the Portfolio Armor optimal hedging app by aiming your iPhone camera at the QR code below (or by tapping here, if you're reading this on your phone). Our app can help you find the least expensive hedges given your risk tolerance and time frame.
