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Thursday, January 23, 2025

Top Trades for Tue, 18 Apr 2017 14:03 – GNC

Dollar/Burr - Yes because it's not really what Mnunchin said but what May said that sent the Pound flying higher against the Dollar and Kuroda's comments weren't doveish enough and it looks like LePen won't win so the Euro perked up - that's why the Dollar really went back to the bottom of its range today:

Hit the 2.5% Rule! 

So yes to playing /DX long at 99.50 but tight stops under.  

GNC/Jet - I still like them, so obviously underpriced now.  As a new trade on GNC:

  • Sell 10 2019 $7.50 puts for $2.80 ($2,800)
  • Buy 20 2019 $5 calls for $5.25 ($10,500)
  • Sell 20 2019 $7.50 calls for $4 ($8,000) 

That's a net $300 credit on the $5,000 spread so the upside is $5,300 (1,766%) and all GNC has to do is hold $7.50, which is now down about 20% from here.  Worst case is owning 1,000 shares at net $7.20 ($7,200), which is about where we just doubled down.

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