Exits, 6/12/2026
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 Photronics (PLAB 0.00%↑). Entered at a net credit of $1.48 as part of a 4-leg hybrid combo on 5/4/2026; the put spread was assigned and exercised at a net debit of $5.00 on 6/11/2026. Loss: 100% of max risk (238% on premium collected). Signal: Market Watchers.
Short call on Helmerich & Payne (HP 0.00%↑). Sold-to-open the June 18th, 2026 $42.50 call for $0.85 as part of a 4-leg hybrid combo on 4/14/2026; bought-to-close that call for $0.20 on 6/9/2026. Profit: 76% on premium collected. Signal: PA Top Names.
Short calls on AtaiBeckley (ATAI 0.00%↑). Sold for $0.73 as part of a 4-leg hybrid combo on 4/20/2026; bought to close for $0.10 on 6/11/2026. Profit: 86% on premium collected. Signal: Multibaggers.
Short call on Solstice Advanced Materials (SOLS 0.00%↑). Sold-to-open the June 18th, 2026 $95 call for $2.45 as part of a 4-leg hybrid combo on 4/28/2026; bought-to-close that call for $0.20 on 6/9/2026. Profit: 92% on premium collected. Signal: Market Watchers.
Short call on Zoom Video Communications (ZM 0.00%↑). Sold-to-open the June 18th, 2026 $110 call for $4.25 as part of a 4-leg hybrid combo on 2/9/2026; bought-to-close that call for $0.20 on 6/9/2026. Profit: 95% on premium collected. Signal: Anthropic Exposure.
Short call on Planet Labs PBC (PL 0.00%↑). Sold-to-open for $4.57 as part of a 4-leg hybrid combo on 4/27/2026; bought-to-close for $0.20 on 6/12/2026. Profit: 96% on premium collected. Signal: Top Names.
Short call on nLIGHT (LASR 0.00%↑). Sold-to-open the June 18th, 2026 $95 call for $7.01 as part of a 4-leg hybrid combo on 3/20/2026; bought-to-close that call for $0.20 on 6/9/2026. Profit: 97% on premium collected. Signal: Market Watchers.
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 over the next six months continues to be strong, as you can see below.
Options
Agreed on all three. Here’s a tightened version:
Premium Harvesting In A Volatile Tape
This was a lighter week for exits than entries.
Earlier in the week, the sharp momentum correction gave us a chance to add bullish exposure in defined-risk structures. After Thursday’s bounce, it looked like Friday might give us a couple of larger exits too, including on our Velo3D (VELO 0.00%↑) trade, after VELO spiked 35% on Thursday.
Then today’s SpaceX ( SPCX 0.00%↑) IPO sucked the air out of a lot of more speculative names tied to the space theme.
VELO still finished the week up about 60%, and that trade doesn’t expire until September, so we didn’t lower our sights just to force an exit.
Closing Out Short Call Legs
Most of this week’s options exits were short-call buybacks. We bought back short calls in Helmerich & Payne, AtaiBeckley, Solstice Advanced Materials, Zoom, Planet Labs, and nLIGHT after collecting most of the original premium.
Buying back short calls for $0.20 or less removes the cap from the long-call side of those hybrids, leaving us with uncapped long-call exposure if the stocks keep working.
We also had one put spread assigned and exercised at max loss in Photronics. That’s why we define the put-side risk in these combos: even during a violent correction, the downside on that leg was capped.
On net, this was a week for staying aggressive without getting sloppy: adding exposure when the correction gave us better prices, harvesting premium where decay gave us the exit, and avoiding forcing call-side exits in names where the clock is still on our side.