Sold EL for a small loss.
music selection: “Don’t Give Up” — White Lion
On 20JUL2021, I opened a bull call spread in EL at the 310/320 strikes. The position was set to expire Friday and had become threatened, just 14 cents in the money. With the market trending down the last couple days, I decided to trim my risk and sell at a small loss. I got in at 6.5486 and got out today at a little more than 5.78. I booked a 535 dollar loss on 4,584 capital at risk over 30 days. That is an 11.7% loss.
I have three additional spreads expiring Friday and they all look safely in the money, with most threatened 3.04% in the money. Should that hold, I will book 10,388 in trading profits for the month of August.
Devour your prey raptors!