It’s time to exit the Mattel (MAT) July 27 calls for good gains.
After some patience, the stock pushed aggressively higher from $22.50 lows to more than $30 today.
The call last traded at $3.20 x $3.40. This gives us close to an 89% gain on the call.
We exited the put side of the initial hedge at a breakeven price.
Look for new trades shortly. The markets are still a bit haywire. But we’re finding opportunities.
Have a great weekend,
Ian L. Cooper
Inside Value Trader