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Friday, April 26, 2024

Top Trades for Thu, 09 Nov 2017 10:03 – M

phil
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Top Trades for Thu, 09 Nov 2017 10:03 – M
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M/Jabob – Over $18 already, silly boy.  cool  Earning $3 per $18 share could be my Stock of the Year for next year since LB has gotten away from us.  

In the very least, M should be a Top Trade today as we can certainly say we'd LOVE to own them at this level:

  • Sell 10 M 2020 $20 puts for $6 ($6,000)
  • Buy 30 M 2020 $15 calls for $5.20 ($15,600) 
  • Sell 30 M 2020 $22 calls for $3 ($9,000) 

That's net $600 on the $21,000 spread that's $3 ($9,000) in the money to start (but you have to clear $20 to cash in the longs without impairment).  Seriously, this would be my Trade of the Year for 2018 if it were Thanksgiving at this price!   M is already in the OOP and LTP and I'll consider later if I want to adjust but today's report justified our targets.  

KSS misses – that one was a no-brainer.  JWN Will have to break the tie.  

 

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