Close the MGM and FCX options for large gains

January 20, 2022 - 12:08 pm

Back in Aug 2020 we purchased Calls and sold Puts on MGM for a bullish trade on the company.  That trade has paid off and we're closing it as the options expire tomorrow.  We'll let the Puts expire at $0, and we're selling the Calls for $10.95. The net gain on the Calls is 138%, and the Puts returned a net 21% return.

Entry Date	Long/Short	Option	Expiration	Strike	Put/Call	Entry Price	Stop Price	Risk Level	Current Price	Gain/Loss	Net Gain/Loss
8/28/2020	Short	MGM	Jan-22	$20.00	Put	($4.20)		Medium	($0.02)	99.5%	20.9%
8/28/2020	Long	MGM	Jan-22	$30.00	Call	$4.60		Medium	$10.95	138.0%	138.0%

 

In Jan 2021 we also purchased Calls on FCX, and we're selling them for a 131% return today and closing this position.

Entry Date	Long/Short	Option	Expiration	Strike	Put/Call	Entry Price	Stop Price	Risk Level	Current Price	Gain/Loss	Net Gain/Loss
1/4/2021	Long	FCX	Jan-22	$30.00	Call	$4.80		Medium	$11.10	131.3%	131.3%