I sold my MSFT bull spread for a loss.

music selection:  “Teenagers” — My Chemical Romance

The market swooned over the last three days and tech was hit hardest.  My MSFT spread went from being in the money to needing an almost 10% rally in 38 days.  I was past my 50% stop loss and decided to sell.

I closed the 225/230 bull call spread with 16OCT2020 expiry today for 1.202 a share.  I originally purchased the spread for 2.49 a share on 31AUG2020.  The trade was in force for 10 days and books a 52% loss.  Over 10 spreads my loss is 1,288.

A HD bull call spread is also threatened but only needs 3.5% rally to earn full profit.  It also is a nickle or so above my 50% stop loss so I’m holding a little longer but watching closely.

Devour your prey raptors!

Capitulating in MSFT

Never miss another opportunity to devour prey!

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