Our Top Names have now more than doubled the performance of SPY since the end of 2022. Time to add a new Top Names trade. Plus, we've got a Market Watchers trade as well.
I’m not lowering that yet. The August calls still have time, EC remains tied to oil prices, and there’s still a chance of an oil spike or another company catalyst before expiration. We'll likely get the next quarterly report before the August calls expire as well. If the calls don’t get closer to that target as we move deeper into the summer, I’ll revisit the limit price then.
Good morning. TSEM is doing well. Are you still going to close the October call spread at $12? I’m thinking of bumping it up to $13 with that much time left.
I think you’re right. Given how deep-in-the-money the spread is now, it makes sense to raise our standard 80%-of-width exit price. I’m raising my target from $12 to $14. That still leaves $1 below the full $15 spread width, but captures more of the move given how far TSEM has run above both strikes.
Out of the TSEM put spread today at $0.20.
Out of the EC put spread today at $0.05.
Out of the 2-leg EC call calendar at $1.60 per contract today, or $3.20 total.
Entering a GTC limit sell order on the remaining EC calls at $4.60 per contract.
Did you sell all of the long calls?
No, just 2 to close out the calendar. Let me calculate a GTC limit price for the other two and I'll share it here and via chat.
Hi. I still have two EC August 2026 long calls at a strike of $13. Have you set a GTC sell price for these yet? Thank you.
Yes, I set one at $4.60 on March 20th: https://blog.portfolioarmor.com/p/trade-alert-pressing-our-advantage/comment/230498828
I’m not lowering that yet. The August calls still have time, EC remains tied to oil prices, and there’s still a chance of an oil spike or another company catalyst before expiration. We'll likely get the next quarterly report before the August calls expire as well. If the calls don’t get closer to that target as we move deeper into the summer, I’ll revisit the limit price then.
Good morning. TSEM is doing well. Are you still going to close the October call spread at $12? I’m thinking of bumping it up to $13 with that much time left.
I think you’re right. Given how deep-in-the-money the spread is now, it makes sense to raise our standard 80%-of-width exit price. I’m raising my target from $12 to $14. That still leaves $1 below the full $15 spread width, but captures more of the move given how far TSEM has run above both strikes.