I sold my bull call spread in LB.
music selection: “When The Children Cry” — White Lion
On 2AUG2021, I bought 36 spreads in LB at the 77.5/80 strikes for 1.3294 per share. I put 4,786 in capital at risk. Shortly after LB spun off Victoria’s Secret and changed their ticker to WBBI for the remaining Bath And Body Works property. I couldn’t find reliable information on what my adjusted strike price was so I decided to sell. I sold this afternoon for 1.45 a share, booking a 9.1% profit over 3 days. That was good for $434.
I have four positions with August expiries that are safely in the money. My MDLZ spread is threatened and would result in a 2,374 loss if expiry was today. Still, that would make my estimated profit for the month 11,071. MDLZ is a company with strong earnings and stable growth that I think can recover in the remaining 16 days. I only need a 3.21% upward move to get back to breakeven.
Devour your prey raptors!