Closed bear put spreads in WST and O early.
music selection: “Be Near Me” — ABC
On 22MAR2021, I bought a bear put spread in WST with 16APR 2021 expiry and 300/310 strikes for 9.08 a share. I had five spreads. The spread was in a bad place this morning with only 3 days left till expiry. I closed early for 3.45 a share to ensure I didn’t book a complete loss. I booked a loss of 2,815 (62%) over 24 days.
On 8MAR2021, I bought a bear put spread on O with 16APR2021 expiry and 65/70 strikes for 4.70 a share. I had ten spreads open. With the low strike about 25 cents out of the money, I elected to sell today for 4.27 a share. Over 38 days, I booked a loss of 430 dollars (9.1%).
My remaining positions with expiry this Friday look fairly safe and are currently on pace to bring in 1,808 in profits. There is the matter of two hedges in GME and CONN that will expire worthless. Overall, I expect net trading profits of 3,711 for the month of April.
Devour your prey raptors!