Well that was fast!
After just 4 days, our PANW bull call spread closed for a 75% profit! The order that I listed in the opening trade alert filled earlier this morning.
To recap the trade, Palo Alto Networks’ stock crashed last week after investors were disappointed in its revenue guidance. I thought that was a huge overreaction, so we opened a bullish trade expecting the stock to rebound.
That hypothesis was spot on, and we just locked in a huge gain.
The closing details are below, and you can read the opening notes here.
Bull Call Spread Option: Palo Alto Networks (PANW)
Bull call spread option (this means that we wanted the underlying stock to rise).
Stock price when I opened the trade: $242.87.
Stock price when I closed the trade: $258.51.
Premium paid to open trade: $125.
Proceeds collected when closing trade: $219.
Result: 75% gain in 4 days!
Congrats on another huge winner!
Jason Milton
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