HD fell below  my 50% stop loss.

music selection:  “Goin’ Crazy” — David Lee Roth

The markets have been down mostly the last several days.  Home Depot (HD) was turning into a big loser for me with both strikes of the bull spread out of the money.  With a close below my 50% stop loss, I decided to close today and take the loss to preserve what capital I could.

I opened the 280/285 bull call spread on 17AUG2020 for 2.50 a share.  I closed today for a 62 cent credit.  I lost 1.88 per share.  That is a 75% loss over 39 days.  FNV and SPGI are also threatened but above the 50% stop loss.  I’m holding out hope.  If the month closed today, I’d have a net loss of $470 on options trades for the month of October.  I have until the 16th for the two underwater trades to turn around.

Devour your prey raptors!

 

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Taking a loss on HD

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