Sell Deere (NYSE: DE) and Lindsay (NYSE: LNN) Puts for Huge Overnight Gains
The washout in the market this morning produced huge one-day gains in the puts I suggested yesterday.
I recommend harvesting those gains or at least placing stop-loss limit prices on the positions.
Sell to close the January 18, 2019, put on Deere (NYSE: DE) with a strike price of $145 at $13.00 or higher for an almost double overnight. Symbol (DE190118P145)
Sell to close the December 21, 2018, put on Lindsay Corp (NYSE:LNN) with a strike price of $95 at $3.85 or higher for a 50% plus gain. Symbol (LNN181221P95)
Stock Talk
Abhi A
Sad. Couldn’t get in. Was too late.
Linda McDonough
I know. I hate it when a trade moves so fast. Don’t fret, I’ve got more up my sleeve. I think we’d all be grateful for a bit less volatility in the market.
Best,
Linda
Joanne Zhang
Hey Linda,
Quick question… if DE comes back up to $145+ and we are able to buy the puts for $6.70, should we still do it or is it a done deal since you issued the trade alert to sell them if we did have them. My order for DE was unable to fill yesterday.
Thanks,
Joanne
Linda McDonough
Joanne,
I would wait. I expect an eventual and sharp bounce in the market and the DE news hit this morning. The news is as I expected and the stock is down. I should have waited to close it out.
Best,
Linda
You must be logged in to post to Stock Talk
You must be logged in to post to Stock Talk
You must be logged in to post to Stock Talk
You must be logged in to post to Stock Talk
Joanne Zhang
Sold LNN for $3.20. The alert took too long to get to me. I lost a lot of profit. 🙁
Thanks for your help, Linda.
Joanne Zhang
Sorry Linda, I really didn’t mean to sound ungrateful. Thank you SO MUCH for your help. I did make nearly $500 on the LNN trade, and that’s fantastic for just a one day trade.
You must be logged in to post to Stock Talk
Linda McDonough
Joanne,
I am equally frustrated with the timing of the alert deliveries. When initiating options trades, I’ve started to issue them before the market open, which seems to ensure subs have enough time to place the trade. However, when closing them out, it is usually during market hours. When the market is moving quickly, the timing is more critical. I’ll continue working with the IT team to try to speed this up.
Best,
Linda
You must be logged in to post to Stock Talk
You must be logged in to post to Stock Talk
John N
LNN sold at $3.90 (bought at $2.60)
You must be logged in to post to Stock Talk
John N
Holding on to DE for now.
You must be logged in to post to Stock Talk
JoeJB
Sold at $3.90 purchased at $2.59 Great one day trade
John N
DE sold for $12.00 (bought at $6.60) a huge one day gain!
Thank you Linda!
You must be logged in to post to Stock Talk
You must be logged in to post to Stock Talk
Linda McDonough
Hello all,
For those of you who did not close out the DE trade; the company reported horrible numbers today- missed revenue and earnings and guidance looks tepid at best. The stock is trading down $2.70 before the open so you’ll have another chance to harvest a nice gain in the puts.
Best,
Linda
You must be logged in to post to Stock Talk
Prasanna Kumar Y R
Thanks Linda,
Stock went up instead, clear signs of manipulation by big boys, squeezing the short sellers.
Still holding on..
You must be logged in to post to Stock Talk
Add New Comments
You must be logged in to post to Stock Talk