We just booked an 88% gain in under 24 hours in our Challenge Portfolio!
Yesterday, I explained that there was bullish Roblox (RBLX) order flow. I took this as a signal that the company would report strong earnings this morning. That’s why I recommended a quick-turnaround earnings trade (see the details here).
Roblox didn’t disappoint. The company reported record-high quarterly bookings, leading its stock to soar as much as 14% on the news (it’s currently up about 10%).
This was absolutely perfect for our trade. The closing details are below, and you can read the opening notes here.
Reminder
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Closing Trade Details:
Bull Call Spread Option—Roblox (RBLX)
Bull call spread option (this means that we wanted the underlying stock to rise).
Stock price when I opened the trade: $40.45.
Stock price when I closed the trade: $44.71.
Premium paid to open trade: $50.
Proceeds collected when closing trade: $94.
Result: 88% gain in less than 24 hours!
Congrats on another winner!
Jason Milton
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