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Winner: 21.09% Gain On MCHP Put Options

|Includes: Microchip Technology Incorporated (MCHP)

Yesterday we closed out our MCHP 19MAY17 72.50 Put Options for a gain of 21.09% on our SHORT trade.

We recommended going SHORT Microchip Tech (NASDAQ:MCHP) in our SA Article: Microchip: Not Much Holding Up the Share Price published on March 23, 2017.

We took advantage of the stock's drop to the $72.00 level yesterday to lock in a gain on this stubborn trade. The stock had been moving sideways ever since we entered the trade - and when you're holding highly leverage options, a prolonged sideways grind eats away at your time value. Timing is everything.

Real-time trade alerts on our options trades are available via our service ChartMasterPro.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.