I sold half my ABB calls.

music selection:  “Bleed” — Soulfly

On 4NOV2020, I bought 4 deep in the  money calls on ABB with expiry of 20JAN2023.   I chose the 15 strike and got pricing of 11.05 a share.  With shares appreciating, I decided to trim the position by half as a matter of reducing exposure in a frothy market.  I sold 2 contracts for 13.00 a share, raising 2,600 in cash.  Profit is 390 dollars over 56 days against 2,210 at risk or 18%.  That comes out to 115% annualized.

I hope to raise additional cash by selling my OXY, PBFX, and FLR bonds at par over the next several days.  Also, I have a long suffering long dated put in VXX with the 13 strike that is approaching the money.  If I can close that for break even, I’ll raise another 14,000.

Devour your prey raptors!

Trim position in ABB

Never miss another opportunity to devour prey!

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