In August, Admiral SPO delivered a great BIDU trade. Most HA Options Members were very grateful for such a brilliant gift from our fearless leader. As usual, Maury was exception to the norm, whose greed was only fueled by the talent at his disposal. He immediately began nagging for another over the top winner. Since Maury is not to be ignored, Admiral SPO obliged with another trade.
On September 8, Admiral SPO sent out a QCOM Straddle: Buy the OCT 21 Expiry 62.50 Calls and 62.50 Puts. QCOM was trading at 62.59 when the order went out, with a target of 60 on the low end and 65 on the high side. We bought into the trade for $3.12.
By September 29, the stock was trading at 66.95. Maury was beside himself with joy when we sold out his position that day for $6 at a 92% profit. And, we still owned the 62.50 Put for FREE!
On October 13, QCOM traded as low as $64.30. Suffice it to say, Maury is holding his breath for another slam lower in the market. If in fact markets do drift lower, you can be sure Fari’s greedy friend will be stalking the Admiral SPO for another Maury trade.