Trade Alert: Second (And Third) Chances

Taking another crack at a Portfolio Armor top name, a biotech binary, and a GLP-1 knock-on effects trade

Second And Third Chances

Over the last two weeks, we’ve tried and failed to get fills on a biotech binary, a GLP-1 knock-on effects trade, and a crypto/AI play from our top names. The crypto/AI play reappeared in our top ten names on Monday night, and the biotech binary’s catalyst is imminent, so I’m taking another stab at all three today. Here’s a recap of why we were interested in these trades to begin with:

Biotech Binary

Today’s trade is a biotech name that comes from our Multibaggers list (X account accounts with multiple, documented 100%+ wins this year).

This company has a key catalyst this week—a data readout—and our trade is designed to give us a shot at convex upside going into that catalyst while strictly limiting our risk. Due to wide spreads, we’re using a Black-Scholes estimate of our trade structure to make sure we’re not paying over fair value for it.

Crypto/AI Top Name

Although biotech has replaced crypto as one of our core themes, two crypto miners appeared in Portfolio Armor’s Top Names last night (we got a fill on one of these when it appeared in our top names last week). Whether that strength is coming from their mining economics, their AI/datacenter exposure, or a broader volatility repricing isn’t the key point—the signal is. Over the last three years, Portfolio Armor’s Top Names have generated substantial alpha, and when the algorithm is this decisive, we follow it. So today we’re adding a trade with uncapped upside on one of those miners.

GLP-1 Knock-On Effects

The GLP-1 macro theme is real, but the expression matters. Citrini was early identifying the initial GLP-1 drug trend, and even if some of his smaller med-tech names didn’t work out, the knock-on effects idea still makes sense: as more patients lose weight from GLP-1 drugs, “last-mile” cosmetic and aesthetic procedures stand to benefit. We have found a better expression of this idea than his.

Full details for all three trades are below, including pre-set exit instructions, so we don’t have to babysit them.

Today’s Top Names Trade

(Crypto/AI Theme)