Two new trades
music selection: “Got You Where I Want You” — The Fly’s
weigh-in: 209.0 n/c
I opened two new net debit spreads today. I did this from my phone on the road to Galveston Island for a day with the sexy Lady Lizard in my life and her son. Thus, this report comes later in the day than usual. I continue to buy one bullish and one bearish spread each week to keep myself market neutral.
My bullish trade is in Freshpet (FPRT). I opened a bull call spread with the 45 and 50 strikes and 21FEB2020 expiry. I got pricing of 4.588 per share. The trade will be in force for about 54 days and yields an expected 14% or 55% annualized. This comes with downside protection of 15.37%.
My bearish trade is in Santandar Consumer (SC). I bought the 25/26 strike bear put spread for 82.45 cents per share. The expiry is 17APR2020, meaning the trade will be in force about 110 days. The trade enjoys 7.34% protection against a move against me and yields 22% or 73% annualized.
It is late in the day and I have other errands to run so I’m going to skip my normal rumination about portfolio management and the merits of the individual stocks.
Devour your prey raptors!