ASPS is another Cash-In-The-Box winner. This short side breakout closed tonight (I'm posting this after midnight so the date is Saturday but I'm referring to Friday) at $69.88 after falling as low as $69.46 a mere 11 cents above our target price of $69.35. The April $70 Put is now worth $2.50 and probably triggered a sale when the stock reached $69.46 according to the option calculator, the option hit $3.01 on the bid price today, well above our $2.70 estimated target price. So if we had our order in to sell at our target price of $2.70 the option would have sold for a 13 percent gain. However if we had a contingent order in to sell the option when the stock reached $69.35 we would still be holding our position. If we sold the stock short we would be up $3.12 per share so far on the close. I think I probably would have taken profits on the close today rather than holding over the weekend. So we can call this trade good enough.
I will see if I can find another Cash-In-The-Box for us to paper trade on Monday morning and post it this weekend.
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