The climax of yesterday’s bullish stampede exceeded an in-our-wildest-dreams target by 56 cents (see inset), but when the dust had settled, short positions initiated by subscribers near an 89.43 Hidden Pivot were well in-the-black. For tracking purposes I’ll use 24 May 87.50 weekly puts that two subscribers reported buying for 0.11 in the chat room. They had tripled in price by the close, and so half should have been exited at some point along the way. However, since I made no explicit suggestion that you do so, I’ll assume none were sold and recommend that you close out half at-the-market on the opening. Of the 12 that would remain, offer six for 0.50 and hold the rest for a potential home run on Friday, when the puts are due to expire. The 0.50 offer to close should be entered before Thursday’s opening, since traders could conceivably exit a total of 18 puts at that price or higher on a gap-down at the bell. ________ UPDATE (12:18 p.m. EDT): The puts opened at 0.50, so you would have reaped $900 on the sale of 18. Since their total cost was $264, there is a theoretical profit of $636 so far. You can sell the rest at will either today or tomorrow. Their cost basis is now zero, so whatever you receive for them would be added as profit to the $636. _______ UPDATE (May 24, 11:46 a.m. EDT): The puts peaked today — expiration day — at 1.00, so you could have come away from the trade with a profit of as much as $1181. In guru promotion-speak, this equates to an annualized gain of six zillion percent.
