Bought a spread in DECK.
music selection: “Flyhigh” — Soulfly
weigh-in: 189.6 (2.2)
DECK has been in a nice uptrend and I have selected it for a bull spread for that reason only. With shares trading at 432.10, I bought 8 spreads with the 17SEP2021 expiry and 420/430 strikes. I paid 5.65 per share, putting 4,520 in capital at risk over 40 days. I enjoy 1.49% downside protection in the trade. Should DECK finish above 430, I will earn the full profit of 3,480 which is good for 77.0% or 703% annualized.
My MDLZ spread is underwater but all other August expiring spreads are safely in the money. If expiry were today, I’d book 11,623 in short term gains for the month.
Devour your prey raptors!