Exits, 5/16/2025
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
Puts on Broadcom (AVGO 0.00%↑). Bought for $1.74 on 4/2/2025; (half) expired worthless on 5/16/2025. Loss: 100%.
Calendar call spread on Chevron (CVX 0.00%↑). Entered at a net debit of $0.07 on 4/9/2025; expired worthless on 5/16/2025. Loss: 100%.
Puts on Nvidia ( NVDA 0.00%↑). Bought for $1.19 on 4/2/2025; (half) expired worthless on 5/16/2025. Loss: 100%.
Call spread on Powell Industries (POWL 0.00%↑). Entered at a net debit of $2.50 on 2/24/2025; expired worthless on 5/16/2025. Loss: 100%.
Puts on PVH (PVH 0.00%↑). Bought for $1.60 on 4/14/2025; expired worthless on 5/16/2025. Loss: 100%.
Calls on Uranium Energy (UEC 0.00%↑). Bought for $1.20 on 11/1/2024; expired worthless on 5/16/2025. Loss: 100%.
Call spread on Coherent (COHR 0.00%↑). Entered at a net debit of $1.65 on 11/26/2024; expired worthless on 5/16/2025. Loss: 100%.
Call spread on Affirm (AFRM 0.00%↑). Entered at a net debit of $1.15 on 11/26/2024; expired worthless on 5/16/2025. Loss: 100%.
Calls on Bit Digital (BTBT 0.00%↑). Bought for $1.03 on 10/1/2025; expired worthless on 5/16/2025.
Call spread on Magna International (MGA 0.60%↑). Entered at a net credit of $3 on 5/8/2025; short leg assigned and position closed out by Schwab on 5/16/2025. Loss: 47%.
Comments
Stocks or Exchange Traded Products
No exits this week, but since we started this Substack in December of 2022, our top names have averaged returns of 16.82% over the next six months, versus SPY’s average of 10%.
Options
This was the big options expiration date for the month, and that’s where our losing trades tend to collect (because we usually exit our winners before expiration). Today, we have losing trades appearing that were opened as long ago as last October. With that said, a few comments:
I noted above that second half of my puts on Broadcom (AVGO 0.00%↑) and Nvidia ( NVDA 0.00%↑) expired worthless today; I sold the first half the AVGO puts for a gain of 130% on April 3rd and the first half of the NVDA puts for a gain of 396% on April 4th.
Powell Industries (POWL 0.00%↑) has been kind of frustrating this year. We made good money on it last year; it’s got strong fundamentals and is positioned to profit from datacenter construction and expansion of oil and gas drilling. Will probably take another crack at it at some pont.
The tariff truce probably doomed our puts on PVH (PVH 0.00%↑). Maybe it would have worked with an expiration date further out.
Uranium Energy (UEC 0.00%↑) not working is interesting, in light of nuclear reactor company Oklo (OKLO 0.00%↑) being up nearly 29% this week. Our open trade on OKLO is on pace for a ~400% gain.
Bit Digital (BTBT 0.00%↑) was up 15.53% today after its quarterly conference call. Although we lost money on this trade, our open trade on this one at a lower strike is in the black so far.
Onward and upward.
Moody’s Downgrades The U.S.
In case you missed it, Moody’s downgraded U.S. debt to Aa1 from Aaa and changed its outlook to stable from negative. If you’re concerned that might lead to another leg down in the markets, you can download the Portfolio Armor app by aiming your iPhone camera at the QR code below (or by tapping here, if you're reading this on your phone).
