I booked 11,778 in short term losses today.
music selection: “Last Of The Wilds” — Nightwish
weigh-in: 203.4 (2.0)
I had three positions that were deep underwater that were scheduled to expire Friday. These were the 145/150 bull call spread in MTCH, the 505/510 bull call spread in NFLX, and the 320/330 bull call spread in HD. I only needed a few percent in each to break even as of last Friday and I made the decision to see if any popped this morning. None did so I cut my losses.
I booked a 2,700 loss in MTCH over 104 days. I booked a 4,280 loss in NFLX over 50 days, and finally 4,798 loss in HD over 43 days. This is super disappointing because a few weeks ago, these were all in the money and I was looking at booking almost 20k in profits for the month. I now expect the month to come in at 8,883 short term capital loss. July is on pace for 7,100 in gains and I might add one more trade to that month next Monday (in the money for some security.) I only need one to move 2.72, and another 2.92 to clear 16,436 in profits. Both are real estate plays (which are super hot right now) so I’m hopeful to get back on track by the end of July. Monthly transparency will likely show me coming in below budget for projected 12 month P&L.
Devour your prey raptors!