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Trade Alerts: Profit locks and a hedge

August 1, 2016 by Cody Willard

Time to add another small tranche to my recent QQQ put position that is to work as a hedge. Nothing big, just another round about the same size as my last purchase of puts with September expirations and $110 strike price.

Likewise, I’m going to trim a little, maybe 10-15% of each of the following positions:

$FB – My single largest position already and I’d added to this one during the Brexit panic, getting another tranche near $110/share and I’m going to sell those shares today.

$GOOG – It’s been on a big run of late and I want to just lock in some profits on this, my second largest position.

$SNE – 30% move in the last month and now up double from our initial buy tranches, time to lock in some profits.

$NVDA – This stock has been on such a tear of late and discipline dictates that I trim a little bit of this one too.

I’m still bullish, net long and am not changing my overall stance here today. Just doing some prudent profit taking and hedging while we can so we can be flexible with our next moves when the time comes.

 

 

Related posts:

Trade Alert: Economic analysis, stock market set-up, shorting IBB
Trade Alert: The algo's and media suddenly fear Recession
Trade Alert - Patience is a virtue
Trade Alert: Prepare For Better Times
Trade Alert: Locking in some 700% gains in my largest position
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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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