Sell Alert: Cypress Semiconductor (CY)

By Jim Pearce • June 11, 2018

TRADE INSTRUCTIONS

Date: June 11, 2018
Name: Cypress Semiconductor
Symbol: CY (NasdaqGS)
Type: Close
Limit: Sell at market              

TRADE RATIONALE

This trade has been all over the map since we opened it five months ago. In March it ran up to $18.87, but by early May it traded as low as $14.88 after releasing Q1 results. CY has battled its way back to a modest profit, so I am closing out this position now since its RSI (relative strength index) and Bollinger Bands suggest it has topped out from a near-term perspective. I’ll have a new trade for you later this week where the odds are more in our favor.

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Mark M

Mark M

Sold my holdings for a realized gain of 6.7% (I’ll take it). Looking forward to your next recommendation. Thanks Jim.

Kenneth B

Kenneth B

Sold at 17.204 on Schwab

Rick

Rick

For what it’s worth to anyone that bought Jun options, I implemented a roll to extend my exposure to CY.

I originally bought Jun 2018 $15 calls on 11Jan18 for $2.60. I was able to roll to a Jan 2019 $17 call and get a $0.40 credit. So, I am basically sitting with the Jan 2019 $17 calls for $2.20.

Derek Myers

Derek: Las Vegas, NV

Nice play Rick!

Derek

Benny K

Benny K

Decided to kick the can down the road and rolled my 6/15/18 $16 calls to 9/21/18 $17 calls. Will hope for positive earnings results on 7/26/18.

Jim Pearce

Jim Pearce

Benny – did you hang on to those options? Looks like you got the result you were hoping for today! https://finance.yahoo.com/news/cypress-reports-second-quarter-2018-200500901.html

Benny K

Benny K

Still hanging on to them. Hopefully it will continue to show gains that reflect its positive results. As we’ve seen that isn’t always the case. It was nice to see they posted good results though.

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