The Portfolio Armor Substack

The Portfolio Armor Substack

Order Text

Trade Entry Instructions — September 11th, 2026 — First Trade

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Portfolio Armor
Sep 11, 2026
∙ Paid

Impinj (PI)

Enter these legs together as one complex order:

1. Buy to open 1 PI April 16, 2027 $230 call,

2. Sell to open 1 PI January 15, 2027 $240 call,

Maximum net debit: $10.00

Order: Day

Maximum gain: Uncapped after the January short call expires out of the money or is bought to close.

Maximum loss: $1,000

Because the expirations differ, the payoff before …

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