Exits, 6/26/2026
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
Short calls on Hyliion Holdings (HYLN 0.00%↑). Sold-to-open the October 16th, 2026 $15 calls for $1.03 as part of a 4-leg hybrid combo on 6/11/2026; bought-to-close those calls for $0.20 on 6/26/2026. Profit: 81% on premium collected. Signal: Multibaggers.
Short calls on Lightwave Logic (LWLG 0.00%↑). Sold-to-open the September 18th, 2026 $24 calls for $1.55 as part of a 4-leg hybrid combo on 5/5/2026; bought-to-close those calls for $0.20 on 6/25/2026. Profit: 87% on premium collected. Signal: Market Watchers.
Short call on Urban Outfitters (URBN 0.00%↑). Sold-to-open the June 26th, 2026 $80 call for $2.43 as part of a 4-leg hybrid combo on 5/8/2026; bought-to-close that call for $0.20 on 6/22/2026. Profit: 92% on premium collected. Signal: Chartmill.
Short call on American Superconductor (AMSC 0.00%↑). Sold-to-open the July 17th, 2026 $65 call for $4.71 as part of a 4-leg hybrid combo on 5/26/2026; bought-to-close that call for $0.20 on 6/24/2026. Profit: 96% on premium collected. Signal: Market Watchers.
4-leg hybrid combo on ACM Research (ACMR 0.00%↑). Entered at a net debit of $3.05 on 5/6/2026; exited the August/June $60/$65 call calendar at a net credit of $7.70 on 6/18/2026; exited the August $45/$40 put spread at a net debit of $0.20 on 6/22/2026. Profit: 146% (return on max risk: 55%). Signal: Market Watchers.
4-leg combo on Ecopetrol (EC 0.00%↑). Entered at a net debit of $1.40 on 2/20/2026; exited the March $12/$10 put spread at a net debit of $0.05 on 3/12/2026; exited the March/August $14/$13 call calendar at a net credit of $1.60 per contract on 3/19/2026; sold the remaining August 21st, 2026 $13 calls for $4.60 on 6/22/2026. Profit: 339% (return on max risk: 140%). Signal: Market Watchers.
Calls on Nuvectis Pharma (NVCT 0.00%↑). Bought for an average of $2.04 as part of a 3-leg combo on 5/5/2026; sold half of the calls for $9.50 on 6/23/2026. Profit: 366% on the calls sold. Signal: Market Watchers.
Calls on Nuvectis Pharma (NVCT 0.00%↑). Bought for an average of $2.04 as part of a 3-leg combo on 5/5/2026; sold the remaining half of the calls for $17.25 on 6/25/2026. Profit: 746% on the calls sold. Signal: Market Watchers.
Options
Harvesting Premium In A Choppy Tape
This was a strong week on the options side: 8 exits, 8 winners (our losing options exits tend to collect on OpEx days, because our winners tend to trigger our pre-set exit orders before expiration; you can see examples of those in June’s OpEx day Exits post).
That was especially useful in a week when the broader tape was anything but smooth. As we discussed in last night’s Top Names post, the AI buildout still has legs, but the market is getting more selective about where those gains accrue.
This week’s action reflected that: tech and semiconductor stocks were under pressure as Korea’s memory trade whipsawed.
That is exactly the sort of environment where our structures do their jobs.
Short Calls Bought Back
Four of this week’s exits were short-call buybacks.
We bought back the short calls in Hyliion Holdings, Lightwave Logic, Urban Outfitters, and American Superconductor after collecting most of the original premium. Those weren’t full trade exits, but they were important. Buying back the short calls for $0.20 removed the cap from the long-call side of those hybrids and left us with cleaner upside exposure if the stocks bounce back.
That’s one of the main advantages of these hybrid structures. We can use short-call premium to reduce the cost of entry, then buy those calls back after time decay and volatility work in our favor. When that happens, the trade improves: less cap, less friction, and more room for the long calls to climb.
Two Full Combo Exits
We also closed out two full combo trades this week.
The ACM Research combo returned 146% on premium, and 55% on max risk. The Ecopetrol combo returned 339%, and 140% on max risk.
Those are very different names and very different themes, but the mechanics were similar: enter with capped downside, resolve the put side, manage the call side, and let the remaining upside do the work.
The Ecopetrol exit is a good example of why we don’t need every trade to move immediately. We entered that trade in February, the short-dated pieces were resolved in March, and we sold the remaining August calls this week for a large gain. Sometimes the best thing the structure does is buy us time.
Letting Winners Run
The biggest call-side exits came from Nuvectis Pharma.
We sold half of the calls on Tuesday for a 366% gain, then sold the remaining half on Thursday for a 746% gain.
That is the reason we try to leave room for runners. The first sale locked in a large gain; the second sale captured a much larger move after the stock kept going.
Not every runner will do that, but when they do, they can more than make up for a lot of smaller premium-harvesting exits.
Process Over Prediction
This was the kind of week that can tempt investors to overreact.
Tech weakness, Korea contagion, shifting Hormuz headlines, and rapid factor rotation can make the market feel chaotic. But the exits this week were mostly mechanical: short calls hit our buyback targets, put spreads had already been resolved, and we sold call-side when they reached attractive levels.
That is the balance we want: stay aggressive where the upside is attractive, keep downside defined at entry, harvest premium when it decays, and let the strongest call-side winners become meaningful.