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!