I bought a net debit spread in Sysco (SYY).

music selection:  “Connected” — Stereo MCs

weigh-in:  214.6 (1.2)

First my expired positions.  A covered call in KMB expired out of the money over the weekend.  I collected 48 dollars in premium.  I sold the 100 shares, that I originally bought for 128.98 on 16FEB2021 for 137.22.  I made 824 dollars against 12,898 at risk over 41 days, good for 57% annualized.

Sysco is a Dividend Aristocrat and a big slow moving large cap.  It has a chart that has moved sideways year to date and looks like a good candidate for an in the money bear put spread.  With shares trading at 80.63, I bought the 85/90 strikes bear put spread with 16APR2021 expiry for 4.65 a share (10 spreads).  I have 4,650 dollars at risk over 19 days.  The trade enjoys 5.42% downside protection and should that not be breached will earn 350 dollars at expiry.  That is good for 7.5% or 145% annualized.  I like my chances with the short term trade.

Devour your prey raptors!

Bear Spread with SYY and yield up to 145%

Never miss another opportunity to devour prey!

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