Exits, 5/29/2026

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

1. Sivers Semiconductors AB (SIVEF). Bought for $2.24 on 4/15/2026; sold half for $6.75 on 5/15/2026; sold a third of the remaining shares for $7.61 on 5/28/2026. Profit: 240% on this latest tranche.

Options

1. 4-leg hybrid combo on Cipher Mining (CIFR 0.00%↑). Entered at a net debit of $1.55 on 11/28/2025; bought-to-close the March 20th, 2026 $30 call at $0.20 on 2/4/2026; exited the March 20th, 2026 $16/$12 put spread at a net debit of $1.45 on 3/19/2026; sold the June 18th, 2026 $24 call for $3.50 on 5/27/2026. Profit: 19% (return on max risk: 5%). Signal: PA Top Names.

2. Call on Personalis (PSNL 0.00%↑). Bought the October 16th, 2026 $7.50 call for $3.79 as part of a 4-leg hybrid combo on 3/5/2026; sold that call for $5.00 on 5/29/2026. Profit: 32% on the call. Signal: Multibaggers.

3. Short call on Canadian Natural Resources (CNQ 0.00%↑). Sold-to-open the June 18th, 2026 $52.50 call for $0.50 as part of a 4-leg hybrid combo on 4/17/2026; bought-to-close that call for $0.10 on 5/29/2026. Profit: 80% on premium collected. Signal: PA Top Names.

4. Short call on Suncor Energy (SU 0.00%↑). Sold-to-open the June 18th, 2026 $70 call for $1.07 as part of a 4-leg hybrid combo on 4/22/2026; bought-to-close that call for $0.20 on 5/29/2026. Profit: 81% on premium collected. Signal: PA Top Names.

5. Put spread on Abivax (ABVX 0.00%↑). Entered at a net credit of $2.17 as part of a 4-leg hybrid combo on 4/20/2026; exited at a net debit of $0.20 on 5/27/2026. Profit: 91% (return on max risk: 70%). Signal: Multibaggers.

6. Short call on Photronics (PLAB 0.00%↑). Sold-to-open the June 18th, 2026 $60 call for $2.18 as part of a 4-leg hybrid combo on 5/4/2026; bought-to-close it at $0.20 on 5/28/2026. Profit: 91% on premium collected. Signal: Market Watchers.

7. Short call on Abivax (ABVX 0.00%↑). Sold-to-open the May 29th, 2026 $155 call for $5.98 as part of a 4-leg hybrid combo on 4/20/2026; bought-to-close that call for $0.20 on 5/29/2026. Profit: 97% on premium collected. Signal: Multibaggers.

8. Calls on BlackBerry (BB 0.00%↑). Bought the December 18th, 2026 $7 calls for $1.16 as part of a 3-leg combo on 5/20/2026; sold half of the calls for $3.50 on 5/29/2026. Profit: 202% on the calls sold. Signal: Market Watchers.

9. Calls on Velo3D (VELO 0.00%↑). Bought the September 18th, 2026 $17.50 calls for $3.07 as part of a 3-leg combo on 5/12/2026; sold half of the calls for $10.40 on 5/26/2026. Profit: 239% on the calls sold. Signal: Market Watchers.

10. 4-leg hybrid combo on Applied Digital (APLD 0.00%↑). Entered at a net debit of $2.10 on 11/12/2025; bought-to-close the January 16th, 2026 $39 call at $0.20 on 12/29/2025; exited the January 16th, 2026 $27/$22 put spread at a net debit of $0.20 on 1/8/2026; sold the June 18th, 2026 $39 call for $12.50 on 5/28/2026. Profit: 476% (return on max risk: 141%). Signal: PA Top Names.

11. Calls on Redwire (RDW 0.00%↑). Bought the November 20th, 2026 $12 calls for $2.60 as part of a 3-leg combo on 4/14/2026; sold the second half of the calls for $16.00 on 5/28/2026. Profit: 515% on the calls sold. Signal: Market Watchers.

12. 3-leg combo on Riot Platforms (RIOT 0.00%↑). Entered at a net debit of $1.36 on 12/9/2025; exited the April 17th, 2026 $13/$9 put spread at a net debit of $0.20 on 4/8/2026; sold the June 18th, 2026 $18 call for $9.00 on 5/27/2026. Profit: 547% (return on max risk: 139%). Signal: PA Top Names.

Comments

Stocks or Exchange Traded Products

Unlike last week, we did have a stock exit this week.

That was Sivers Semiconductors (SIVEF), where we sold another tranche after a sharp move higher. This latest sale was a 240% gain. We still kept some exposure, but this was the right kind of trim: take another piece off after a big rerating, while leaving room for the remaining shares to benefit if the story keeps improving.

Options

Another Clean Options Week

On the options side, this was another strong week: 12 options exits, 12 winners (our losing options exits tend to collect on OpEx days, because our winners tend to trigger our preset exit orders before expiration; you can see examples of those in May's OpEx day Exits post).

A number of those exits were short call buybacks or put spread exits. Those harvest premium, reduce risk, and in the hybrid trades, they can leave the higher-upside long-call side alive for the next move. Abivax is a good example. When we entered that hybrid combo, the max gain was capped at $2,035 if the short call finished in-the-money, and the max loss was $1,115. After buying back the short call and exiting the put spread, the remaining long call is now uncapped, and our max loss has dropped to $655.

That’s the machinery of the strategy doing its job.

The Call Side Did The Heavy Lifting

The bigger gains came from the call side again.

BlackBerry and Velo3D were both partial call exits: 202% and 239% gains, respectively. In both cases, we sold half after a large move, locked in a win, and left the rest open.

Redwire was the next step in that same process. After selling half last week for a 208% gain, we sold the second half this week for a 515% gain.

That’s the tradeoff we’re looking for: defined downside at entry, but enough call exposure to let a real move show up in the exit list.

A Couple Of Full Exits

We also had full combo exits in Applied Digital and Riot Platforms, for gains of 476% and 547%, respectively.

Those are the cleaner end-state versions of the same process: the downside hedge gets resolved, the call side does the work, and the original risk budget stays defined the whole way.

A Note On Personalis

Personalis is a little different, because we have not exited the put spread yet.

On the surface, the long-call exit doesn’t look that exciting: a 32% gain. That’s fine, but it undersells what the structure is likely to do.

We didn’t simply buy that call. We bought it as part of a 4-leg hybrid combo that filled at a $0.45 net debit. We already bought back the short call for $0.20. If the remaining put spread exits at our $0.20 target, our total effective cost for the long-call side will have been $0.85.

Against that effective cost, selling the long call for $5.00 looks very different. You should see that when we log the full exit, after the put spread is resolved.

The Structures Continue To Work

The common thread this week was structure again.

We had a stock trim, a set of premium-harvesting exits, partial call exits, second-half call exits, and full combo exits. Different sectors, different signals, same basic goal: define the downside, use premium where it’s available, and keep enough upside exposure for the winners to matter.

This was another week where that process showed up clearly in the results.