The Portfolio Armor Substack

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Trade Alert: Adjustments, 9/25/2026

Raising today’s entry limits after intraday repricing.

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Portfolio Armor
Sep 25, 2026
∙ Paid
Ghibli bull options trading

I just repriced both trades from this morning, using intraday share prices and IVs.

Trade Alert: Supply Chains And Gene Editing

Portfolio Armor
·
12:31 PM
Trade Alert: Supply Chains And Gene Editing

Two Different Paths To Upside

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At $207.19, with Cboe implied volatilities of 47% on both January 2027 calls, Black–Scholes, Bjerksund–Stensland, and an 8,000-step Cox–Ross–Rubinstein binomial model each value the Manhattan Associates (MANH 0.00%↑) call spread at about a $6.25 net debit. I raised the maximum net …

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