TMO crossed my stop loss.

music selection:  “The Dark Of You” — Breaking Benjamin

On 14DEC2020, I entered a bull call spread in TMO at the 470/480 strikes and 19MAR2021 expiry for 4.85 per share.  It looked like a sure winner at the time but the trend has reversed.  Today, my 50% stop loss was breached so I sold for 1.45 per share.  I book a 2,720 loss over 81 days on 3,880 capital at risk.

With the market nearing correction territory, I am de-risking where I can take profits.  Two in the money calls were purchased on ABB on 4NOV2020 at the 15 strike with 11.05 pricing.  I sold today for 14.30 a share, booking a profit of 650 dollars on 2,210 at risk over 120 days.  I sold two out of the money puts on HSY on 26MAY2020 at the 115 strike for 12.40 collecting 2,480 in upfront premium.  I closed today for 2.95 a share, booking profit of 1,890 over 282 days.

Altogether, my P&L for the day is minus 180 dollars.  Unless I can close my long VXX puts at a significant gain before month end, March will close with a net loss in options of 258 dollars.

Devour your prey raptors!

Throw in the towel TMO, book gains ABB and HSY

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