Shortly after issuing trades on the DECK stock, the June 67.50 calls, and the April 70 calls, news hit that Goldman Sachs upgraded the name, arguing for 30% upside.
We were in long before the news hit.
Today, the underlying stock is up another $2.15 on the day, sending our trades higher.
While holding all of the stock (up 6%), consider selling to close half of the call trades to protect gains. I’ll look to exit the second half at a later date.
I’m looking for a gap refill around $80 before closing this out.
Hold all other trades.
Ian L. Cooper
Forgotten Profits