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Stopped Out: Hertz (HTZ)

I hit my stop loss in HTZ at yesterday’s close.

music selection:  “Fell In Love With A Girl” — The White Stripes

My stop loss for Hertz (HTZ) was set at 18.05.  Shares closed over that price Thursday afternoon.  I still believe in the thesis but I’m going to honor my stop.  I bought to close all 554 shares at 18.79 for a cash outlay of 10,409.66.

My loss is 2,409.36 on a basis of 8,000.30.  That is a loss of 30.12% or 36.04% annualized.  The trade was in force for 305 days.  I am still in CAR, AMG, F, GM, COF, CNQ, S, and SC short positions.  Time will tell the tale.

Devour your prey raptors!

{ 2 comments… add one }
  • T August 12, 2017, 1:55 pm

    Thanks for updating the losers too.

    I think there would be a lot of people interested in your thesis on the uvxy options market over the last week (if you have one). We sold to close our position when the underlying soared as did the prices of puts. We looked at the irrational behavior and were fine taking our gains. Put prices continued to rise after that. I’m definitely not complaining about those gains though. 🙂

    I’m planning to wait this out a few days to see if pricing gets back in line before we take another position.

    Thanks

    • The Lizard King August 12, 2017, 4:25 pm

      It’s only fair to update the losers too.

      I almost sold my UVXY puts when they were up a dollar after only 3 days. I would have had a gonzo annualized return over 1000%. But that would have been sort of misleading because it really isn’t repeatable. I wouldn’t buy back in right now if I was out. Better pricing should be around the corner.

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