Software Stock Scores 200% Profit in Under Two Days

Sea stock options were cheap at the time of our recommendation

Deputy Editor
Dec 13, 2022 at 1:58 PM
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Subscribers to our Schaeffer's Expiration Week Countdown Bulletin service scored a 200% profit with our recommended Sea Ltd (NYSE:SE) December 16, 2023 16-strike call in just two days. Below, we'll dive into our bullish stance on SE and how the trade played out so quickly. 

At the time of our recommendation on Sunday, Dec. 11, we highlighted SE's mid-November, post-earnings upside gap on the charts, which acted as support over the next month. Subsequently, the shares formed a bullish triangle continuation that saw the shares move higher to profit. 

SE Postmortem

Short interest accounted for 7% of Sea stock's available float, after forming a peak in early October. Simply put, the combination implied that bears moved to cover. 

Options premium was affordably priced at the moment, too. SE's Schaeffer's Volatility Scorecard (SVS) of 91 out of 100 implied the equity outperformed volatility expectations over the last year. What's more, its implied volatility (IV) was 74% with the 20-day historical volatility (HV) at 82% and 252-day HC at 88%.

Sea stock tacked on 2.8% in Monday's trading, and traded as high as $68.67 this morning. We closed out our SE call within the first five minutes of trading today, allowing subscribers to lock in a 200% profit in just over one trading day.

 

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