It took a lot of patience and banging my head against the wall to understand how a stock like AMBA could accelerate to such nosebleed levels on nothing.
Then, Citron Research jumped in and noted the price wasn’t based on reality, citing the company’s absurd valuation. That’s all it took to send the stock down about $20 on the day. Our AMBA August 2015 100 put now trades around $10. Consider selling to close to secure the 14% gain.
I’m also recommending that you sell to close the second half of the ZUMZ August 25 calls for max gains of 121% since June 8, 2015.
What a delirious market this has become.
Have a great week. To the fathers, I hope you had a great Father’s Day.
Best wishes to you.
Ian L. Cooper
Rapid Retirement System