Sell MGPI December Puts for Quick 38% Gain

By Linda McDonough • October 4, 2018

Sell to close the December 21, 2018 put on MGP Ingredients (NSDQ: MGPI) with a strike price of $75 at $5.60 or higher. Symbol (MGPI181221P75)

Book the quick gain in these puts. I am still bearish on MGPI’s fundamentals but like to book a double-digit gain when we can. Most subs should have a 33-43% gain.

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JoeJB

10/04/18 ‐ 12:25pm ET October 4, 2018 at 12:25pm ET

Filled at $5.60

MarkS

10/04/18 ‐ 2:16pm ET October 4, 2018 at 2:16pm ET

Sold half of MGPI @ $5.37 for 33% gain.
Holding other half based on Linda continued bearish stance on MGPI fundamentals.

thanks,

Steve S.

10/04/18 ‐ 2:20pm ET October 4, 2018 at 2:20pm ET

Closed @ $5.40. Thanks Linda.

Again, however, the delayed text alert prevented a higher fill. It arrived over 90 minutes after the first post reporting a fill.

Linda McDonough

10/05/18 ‐ 10:58am ET October 5, 2018 at 10:58am ET

Steve,
I am equally frustrated with the lag between time posted and delivery. I will take it up with powers that be in the IT department to speed up delivery.
Best,
Linda

Daniel Long

10/04/18 ‐ 4:03pm ET October 4, 2018 at 4:03pm ET

MGPI BTO Dec 21 75 Put for 3.90 on 9/28/18.
STC Dec 21 75 Put for 5.30 on 10/4/18 at Fidelity.
38% profit in 6 days.
Fun when this happens.
Thanks, Linda

MarkS

10/23/18 ‐ 1:37pm ET October 23, 2018 at 1:37pm ET

sold remaining half of MGPI at $5.70 for 41% gain
nice to book some profits in a down market

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Linda McDonough

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Linda McDonough is a veteran hedge fund analyst who loves to break down company financial statements and identify market inefficiencies to uncover big opportunities. She believes in a boots-on-the-ground approach that includes surveying customers, interviewing company executives, or doing whatever it takes to see what others don't.

She's now brought her experience as a hedge fund analyst to subscribers of her Profit Catalyst Alert service. Her system identifies small- and mid-cap stocks that are about to move due to catalytic events that few others can identify...until it's too late. These events often times result in massive gains for her followers.