Exits, 7/31/2026
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 a spreadsheet. These are the trades I exited this week.
Stocks or Exchange Traded Products
None.
Options
Put spread on Lightwave Logic (LWLG 0.00%↑). Entered at a net credit of $1.60 as part of a 3-leg combo on 5/13/2026; exercised and assigned on 7/30/2026. Loss: 100% of max risk (88% on premium collected). Signal: Market Watchers.
Put diagonal on SiteOne Landscape Supply (SITE 0.00%↑). Entered the August 21st/September 18th, 2026 $95/$100 put diagonal for a $3.83 net debit as part of a 4-leg inverted hybrid combo on 7/28/2026; exited the diagonal for a $5.00 net credit on 7/29/2026. Profit: 31%. Signal: Bearish Rally Failure.
Short calls on Knowles (KN 0.00%↑). Sold-to-open the September 18th, 2026 $50 call for $1.46 as part of a 4-leg hybrid combo on 6/26/2026; bought-to-close for $0.20 on 7/28/2026. Profit: 86% on premium collected. Signal: Market Watchers.
Short calls on United Microelectronics (UMC 0.00%↑). Sold-to-open the October 16th, 2026 $37 call for $1.55 as part of a 4-leg hybrid combo on 7/10/2026; bought-to-close for $0.20 on 7/28/2026. Profit: 87% on premium collected. Signal: Market Watchers.
Short calls on CPS Technologies (CPSH 0.00%↑). Sold-to-open three October 16th, 2026 $15 calls for $1.72 as part of a 4-leg hybrid combo on 6/11/2026; bought-to-close for $0.20 on 7/27/2026. Profit: 88% on premium collected. Signal: Multibaggers.
Put spread on Cogent Biosciences (COGT 0.00%↑). Entered at a net credit of $1.91 as part of a 4-leg hybrid combo on 4/27/2026; exited at a $0.20 net debit on 7/31/2026. Profit: 90% on premium collected. Signal: Market Watchers.
Short calls on Spire Global ( SPIR 0.00%↑). Sold-to-open the October 16th, 2026 $28 call for $2.51 as part of a 4-le hybrid combo on 5/19/2026; bought-to-close that call for $0.20 on 7/28/2026. Profit: 92% on premium collected. Signal: Market Watchers.
Short calls on Bitdeer Technologies (BTDR 0.00%↑). Sold-to-open two September 18th, 2026 $25 calls for $2.55 as part of a 4-leg hybrid combo on 6/18/2026; bought-to-close those calls for $0.20 on 7/27/2026. Profit: 92% on premium collected. Signal: Market Watchers.
Short calls on Viavi Solutions (VIAV 0.00%↑). Sold-to-open the September 18th, 2026 $70 call for $4.34 as part of a 4-leg hybrid combo on 5/19/2026; bought-to-close that call for $0.20 on 7/29/2026. Profit: 95% on premium collected. Signal: Market Watchers.
Short calls on Applied Digital (APLD 0.00%↑). Sold-to-open the October 16th, 2026 $65 call for $5.10 as part of a 4-leg hybrid combo on 6/4/2026; bought-to-close that call for $0.20 on 7/29/2026. Profit: 96% on premium collected. Signal: Market Watchers.
Comments
Stocks or Exchange Traded Products
No exits this week. I’ve focused on options instead of our basic strategy, which involves buying stocks and ETFs. You can find the performance of our top names since I launched this Substack here.
Options
Ten Exits, One Defined Loss
We had ten partial options exits this week. Nine were profitable, ranging from 31% on premium outlay to 96% on premium collected. The Lightwave Logic put spread reached its full defined loss. All ten were partial exits from larger structures, so none closed an entire position.
The LWLG Loss
Lightwave Logic’s $15/$12 put spread reached its maximum loss after the short put was assigned and the long put was exercised. We lost 100% of max risk on that spread. The long call from the original 3-leg combo remains open.
Seven Upside Caps Remove
Seven of the winners came from buying back short calls for $0.20 after selling them for between $1.46 and $5.10. Those exits returned 86% to 96% on premium collected and removed the upside caps from the corresponding long calls.
The short calls had already done their financing job. Buying them back near their floor left more room for the remaining bullish legs to benefit from a rebound.
A Bearish Payoff And A Bullish Reset
The SiteOne bearish put diagonal returned 31% after the company missed earnings and the shares fell sharply; its short call spread remains open. On the bullish side, we paid $0.20 to close Cogent Biosciences’ $1.91-credit put spread, keeping 90% of the premium while leaving its call calendar open.
The week’s exits show why we manage multi-leg trades one piece at a time. We harvested financing legs near their floor, monetized a fast directional move, and preserved the remaining optionality where the thesis still had room to play out.