Exits, 6/18/2026
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
4-leg combo on CoreWeave (CRWV 0.00%↑). Entered at a net debit of $1.50 on 11/4/2025; the short November 14th, 2025 $118 put was assigned on 11/13/2025, we sold the long November 14th, 2025 $113 put for $27.70, and we sold the shares for $81.40; the June 18th, 2026 $175/$195 call spread expired worthless on 6/18/2026. Loss: 160% of intended max risk (693% on premium outlay). Signal: Top Names.
4-leg combo on Centrus Energy (LEU 0.00%↑). Entered at a net credit of $8.50 on 11/13/2025; the short March 20th, 2026 $270 put was assigned and we exercised the long March 20th, 2026 $250 put on 3/19/2026; the June 18th, 2026 $410/$430 call spread expired worthless on 6/18/2026. Loss: 100% of max risk (135% on premium collected). Signal: Top Names.
4-leg combo on Palantir Technologies (PLTR 0.00%↑). Entered at a net debit of $3.00 on 11/10/2025; the short February $175 puts were assigned and we exercised the long February $170 puts on 2/12/2026; exited the call spread at a net credit of $0.01 on 6/17/2026. Loss: 100% of max risk (266% on premium outlay). Signal: Top Names.
4-leg combo on NetEase (NTES 0.00%↑). Entered at a net debit of $2.30 on 10/27/2025; the short November 21st, 2025 $145 put was assigned and we exercised the long November 21st, 2025 $140 put on 11/21/2025; the June 18th, 2026 $165/$180 call spread expired worthless on 6/18/2026. Loss: 100% of max risk (317% on premium outlay). Signal: Top Names.
4-leg combo on Coinbase Global (COIN 0.00%↑). Entered at a net credit of $0.20 on 11/7/2025; the short February $260 put was assigned on 2/5/2026, and we exercised the long February $250 put; exited the call spread at a net credit of $0.03 on 6/17/2026. Loss: 100% of max risk (4,885% on premium collected). Signal: Top Names.
Calendar spread on Hubbell Incorporated (HUBB 0.00%↑). Entered at a net debit of $8.60 on 4/28/2026; bought-to-close the short May 15th, 2026 $560 call at $0.20 on 5/13/2026 and sold the long June 18th, 2026 $560 call for $0.01 on 6/18/2026. Loss: 99% of max risk (102% on premium outlay). Signal: Market Watchers.
4-leg hybrid combo on D-Wave Quantum (QBTS 0.00%↑). Entered at a net debit of $1.75 on 1/12/2026; bought-to-close the short April 17th, 2026 $40 call at $0.20 on 2/20/2026, exited the put spread at a net debit of $2.95 on 4/17/2026, and the long June 18th, 2026 $34 call expired worthless on 6/18/2026. Loss: 96% of max risk (280% on premium outlay). Signal: Top Names.
4-leg combo on Oklo (OKLO 0.00%↑). Entered at a net debit of $2.55 on 11/6/2025; exited the put spread at a net debit of $4.60 on 11/14/2025, and the June 18th, 2026 $165/$185 call spread expired worthless on 6/18/2026. Loss: 95% of max risk (280% on premium outlay). Signal: Top Names.
Put spread on Peabody Energy (BTU 0.00%↑). Entered at a net credit of $1.62 as part of a 4-leg hybrid combo on 2/24/2026; exited at a net debit of $4.70 on 6/18/2026. Loss: 91% of max risk (190% on premium collected). Signal: Top Names.
3-leg combo on Ondas Holdings (ONDS 0.00%↑). Entered at a net debit of $1.65 on 12/18/2025; exited the put spread at a net debit of $0.20 on 1/13/2026 and sold the calls for $0.55 on 6/17/2026. Loss: 79% on premium outlay (31% on premium outlay). Signal: Market Watchers.
3-leg combo on Ondas Holdings (ONDS 0.00%↑). Entered at a net debit of $1.85 on 10/24/2025; exited the put spread at a net debit of $0.15 on 11/14/2025 and sold the calls for $0.01 on 6/17/2026. Loss: 59% of max risk (108% on premium outlay). Signal: Top Names.
3-leg combo on Warner Bros. Discovery (WBD 0.00%↑). Entered at a net debit of $0.95 on 12/23/2025; the short $29 puts were assigned on 3/5/2026, and the shares were sold at $27.88; sold the long puts for $0.01 on 3/6/2026 and sold the calls for $0.01 on 6/17/2026. Loss: 52% of max risk (216% on premium outlay). Signal: Top Names.
3-leg combo on Fortuna Silver Mines (FSM 0.00%↑). Entered at a net debit of $0.89 on 12/30/2025; exited the put spread at a net debit of $0.20 on 2/20/2026 and sold the calls for $0.05 on 6/17/2026. Loss: 30% of max risk (117% on premium outlay). Signal: Top Names.
3-leg combo on Energy Fuels (UUUU 0.00%↑). Entered at a net debit of $1.65 on 11/6/2025; exited the put spread at a net debit of $0.19 on 4/16/2026 and sold the calls for $0.01 on 6/18/2026. Loss: 28% of max risk (111% on premium outlay). Signal: Top Names.
Put spread on Perma-Pipe International Holdings (PPIH 0.00%↑). Entered at a net credit of $2.01 as part of a 4-leg hybrid combo on 2/18/2026; exited at a net debit of $2.75 on 6/17/2026. Loss: 25% of max risk (37% on premium collected). Signal: Market Watchers.
Put spread on Capricor Therapeutics (CAPR 0.00%↑). Entered at a net credit of $0.42 as part of a 4-leg hybrid combo on 3/30/2026; exited at a net debit of $0.20 on 6/17/2026. Profit: 52% on premium collected. Signal: Multibaggers.
Call calendar on ACM Research (ACMR 0.00%↑). Entered at a net debit of $4.89 as part of a 4-leg hybrid combo on 5/6/2026; exited at a net credit of $7.70 on 6/18/2026. Profit: 57% on premium outlay. Signal: Market Watchers.
3-leg combo on LightPath Technologies (LPTH 0.00%↑). Entered at a net debit of $1.95 on 11/4/2025; exited the put spread at a net debit of $1.25 on 11/21/2025 and sold the calls for $4.60 on 6/17/2026. Profit: 72% on premium outlay (return on max risk: 30%). Signal: Multibaggers.
Put spread on nLIGHT (LASR 0.00%↑). Entered at a net credit of $2.33 as part of a 4-leg hybrid combo on 3/20/2026; exited at a net debit of $0.55 on 6/18/2026. Profit: 76% on premium collected. Signal: Market Watchers.
Short call on Equinor (EQNR 0.00%↑). Sold-to-open for $0.91 as part of a 4-leg hybrid combo on 5/27/2026; bought-to-close for $0.20 on 6/18/2026. Profit: 78% on premium collected. Signal: Top Names.
Short calls on Merlin (MRLN 0.00%↑). Sold-to-open the July 17th, 2026 $15 calls for $0.48 as part of a 4-leg hybrid combo on 6/5/2026; bought-to-close those calls for $0.10 on 6/16/2026. Profit: 79% on premium collected. Signal: Market Watchers.
Put spread on TechnipFMC (FTI 0.00%↑). Entered at a net credit of $1.38 as part of a 4-leg hybrid combo on 5/22/2026; exited at a net debit of $0.20 on 6/15/2026. Profit: 86% on premium collected. Signal: PA Top Names.
Short calls on Venture Global (VG 0.00%↑). Sold-to-open the August 21st, 2026 $20 calls for $1.22 as part of a 4-leg hybrid combo on 4/9/2026; bought-to-close those calls for $0.15 on 6/15/2026. Profit: 88% on premium collected. Signal: PA Top Names.
Put spread on Moderna (MRNA 0.00%↑). Entered at a net credit of $1.75 as part of a 4-leg hybrid combo on 4/7/2026; exited at a net debit of $0.20 on 6/17/2026. Profit: 89% on premium collected. Signal: Top Names.
Call spread on United States Oil Fund (USO 0.00%↑). Entered at a net credit of $1.95 as part of a 4-leg combo on 4/7/2026; exited at a net debit of $0.20 on 6/16/2026. Profit: 90% on premium collected. Signal: Macro.
Short calls on Amprius Technologies (AMPX 0.00%↑). Sold-to-open the July 17th, 2026 $24 calls for $1.95 as part of a 4-leg hybrid combo on 4/13/2026; bought-to-close those calls for $0.20 on 6/16/2026. Profit: 90% on premium collected. Signal: Market Watchers.
Short call on Occidental Petroleum (OXY 0.00%↑). Sold-to-open for $2.30 as part of a 4-leg hybrid combo on 5/1/2026; bought-to-close for $0.20 on 6/18/2026. Profit: 91% on premium collected. Signal: Top Names.
Short call on TechnipFMC (FTI 0.00%↑). Sold-to-open for $2.57 as part of a 4-leg hybrid combo on 3/23/2026; bought-to-close for $0.20 on 6/18/2026. Profit: 92% on premium collected. Signal: Chartmill.
Put spread on Woodward (WWD 0.00%↑). Entered at a net credit of $2.98 as part of a 4-leg combo on 3/10/2026; exited at a net debit of $0.20 on 6/18/2026. Profit: 93% on premium collected. Signal: Top Names.
Short call on Planet Labs (PL 0.00%↑). Sold-to-open the July 17th, 2026 $50 call for $2.93 as part of a 4-leg hybrid combo on 4/7/2026; bought-to-close that call for $0.20 on 6/16/2026. Profit: 93% on premium collected. Signal: Market Watchers.
Call calendar on Lumentum Holdings (LITE 0.00%↑). Entered at a net debit of $9.80 on 5/11/2026; exited at a net credit of $22.00 on 6/18/2026. Profit: 124% on premium outlay. Signal: Market Watchers.
4-leg hybrid combo on Aehr Test Systems (AEHR 0.00%↑). Entered at a net debit of $2.50 on 3/25/2026; exited the put spread at a net debit of $0.20 on 4/16/2026 and exited the call calendar at a net credit of $8.20 on 6/17/2026. Profit: 220% on premium outlay (return on max risk: 73%). Signal: Market Watchers.
4-leg hybrid combo on Lightwave Logic (LWLG 0.00%↑). Entered at a net debit of $0.75 on 3/31/2026; exited the put spread at a net debit of $0.06 on 4/22/2026 and exited the call calendar at a net credit of $2.50 on 6/18/2026. Profit: 225% on premium outlay (return on max risk: 97%). Signal: Chartmill.
4-leg hybrid combo on Amkor Technology (AMKR 0.00%↑). Entered at a net debit of $2.40 on 3/2/2026; exited the put spread at a net debit of $0.20 on 4/22/2026 and exited the call calendar at a net credit of $8.45 on 6/18/2026. Profit: 244% on premium outlay (return on max risk: 91%). Signal: Top Names.
3-leg combo on Amplitech Group (AMPG 0.00%↑). Entered at a net credit of $1.30 on 2/3/2026; sold half of the July 17th, 2026 $5 calls for $1.30 on 5/21/2026; the short July 17th, 2026 $5 puts were assigned on half the position on 4/20/2026, leaving us with 300 shares; sold the remaining July 17th, 2026 $5 calls for $4.60 on 6/17/2026 and sold the 300 assigned shares for $9.81 on 6/18/2026. Profit: 512% on premium collected (return on max risk: 555%). Signal: Multibaggers.
4-leg hybrid combo on Richardson Electronics (RELL 0.00%↑). Entered at a net debit of $0.75 on 2/19/2026; exited the put spread at a net debit of $0.20 on 5/14/2026 and exited the call calendar at a net credit of $5.52 on 6/18/2026. Profit: 609% on premium outlay (return on max risk: 141%). Signal: Market Watchers.
4-leg combo on Lam Research (LRCX 0.00%↑). Entered at a net debit of $0.84 on 4/2/2026; exited the put spread at a net debit of $0.20 on 4/13/2026 and exited the call spread at a net credit of $8.00 on 6/15/2026. Profit: 829% on premium outlay (return on max risk: 119%). Signal: Top Names.
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
A Busy OpEx Week
This was a big OpEx week, so the exit list is longer than usual.
OpEx weeks are also when our losers tend to collect: our pre-set exit orders often get us out of winning trades before expiration, while the trades left for OpEx are often the ones that didn’t work cleanly.
As usual, we list our worst losses first — full transparency.
This week still finished strong: 22 of this week’s 37 options exits were profitable. The win column included several large exits. A few of the losing exits were also relatively small: 30% of max risk or less.
That’s what we want to see over time: losses that stay contained, premium-harvesting legs that keep reducing risk, and winners large enough to more than offset the trades that don’t work.
Where The Losses Came From
A number of this week’s losing exits came from older trades entered before we added our current RSI (Relative Strength Index) and Chartmill Setup Rating screens. Those screens help us avoid two bad entry points: names that are breaking down and names that are overextended.
Some of this week’s older losing trades were in themes that had strong logic but weaker timing. Nuclear is one example. The long-term case remains real, but the market has been more willing to pay for AI infrastructure where the revenue, capex, and capacity growth are visible now. Nuclear still has policy support and future demand, but the new operating capacity story remains mostly ahead of us.
Precious metals are another example. We had a Top Names trade with good fundamentals and technicals in a silver miner, but precious metals haven’t been the right theme this year.
How We’ve Improved The Structures
We’ve also improved the structures.
Some of this week’s older losses came from trades where the put legs expired much earlier than the long calls. Since then, we’ve generally used longer-dated put legs in more trades. That gives the thesis more time to play out, provides more financing for the long upside exposure, lowers the net cost of the trade, and lowers the break-even point.
CoreWeave was the clearest process mistake in this batch. After the short put was assigned, we sold the long put leg instead of exercising it to resolve the assigned short-put exposure. That turned a loss that should have been strictly limited into something larger.
That one is on us.
We track these exits publicly because the point is to improve the process, not just celebrate the wins.
When Winners Deserve More Room
RELL, LWLG, and AEHR all made the same point from the other side.
The original hybrid structures worked. They produced strong gains. But the short calls also limited the upside once the stocks moved sharply higher. We later added more bullish exposure to all three names with structures that gave them more room to run.
A stock can climb hundreds of percent and still be tradable at the higher level if the thesis has strengthened, revenues and estimates have grown large enough to justify it, and the stock still passes our technical screens.
We don’t anchor to the first price we traded.
If the thesis improves and the setup is still there, we will trade it again. That’s how we’ve been able to trade strong names repeatedly as they kept climbing.
Premium Harvesting Kept Working
Premium harvesting did a lot of work this week too.
Short calls and put spreads on OXY, FTI, EQNR, WWD, MRNA, PL, AMPX, and others came off profitably as time decay worked in our favor. That’s one of the main jobs of these structures: collect premium, reduce risk, and leave the bullish side alive where the thesis still looks attractive.
The large winners drive the headline returns, while the premium-harvesting legs keep improving the math along the way.
The Takeaway
Overall, this was a strong exit week.
Our winners outnumbered our losers. The biggest wins were much larger than the typical loss. The premium-harvesting legs did their job. And several of the largest losses came from older trades entered before process improvements we now use every day.
That’s the right direction.
Keep the upside large. Keep improving the filters. Keep the losses limited. And when a thesis keeps getting stronger, trade the current setup instead of anchoring to the first price we saw.
Love the continued growth and introspection. Constant refinement of process and the results keep iterating alpha. Appreciate your work and your focus on the details.