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music selection:  “Tainted Love” — Marilyn Manson

I closed out multiple positions that had fallen below my stop loss including CCJ, CCLP, HCR, IP, and SXC.   I also got into an out of the money situation with 5 ADBE bull call spreads.  I originally purchased on 6JAN2020 the 305/310 strikes BCS for 3.876 per share.  I sold today for 3.004 per share.  I lost 436 on 1,938 at risk or 22% over 67 days.

I have one bull call spread still open (LLY) and that is 3.8% in the money.  I also have two bear put spreads that are deep in the money. All expire on the 17th.  I don’t plan to resume trading next week.  I intend to sit out however long it take for normalcy to return.  My wheelhouse is effectively betting on low volatility.  This is clearly not the time for what I do.  An alert reader noted that it might be a good time to buy long dated puts on VXX or UVXY in anticipation of reversion to mean and contango.

Devour your prey raptors!

Closed ADBE bull call spread early

Never miss another opportunity to devour prey!

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