Sold DECK bull call spread for a loss.

music selection:  “Don’t Let Your Chance Go By” — The Jeff Healey Band

DECK was moving against the broad market and was out of the money for me.  I sold today.  On 9AUG2021 I bought, 8 bull call spreads of DECK at the 420/430 strikes and 17SEP2021 expiry for 5.65 a share.  I sold today for 2.45 a share.  I booked a loss of 2,560 (56.6%) over 25 days.   The sale raised 1,960 in cash.

My September was previously pacing for profits over 11,000.  CBOE was assigned early on the ex-div date moving 1,155 in profits to August.  I have four positions with 17SEP expiry left and they all in the money (TE Connectivity is threatened).  Should current prices hold for another 15 days, I will book 5,441 in profit for the month of September.

Devour your prey raptors!

Capitulate DECK

Never miss another opportunity to devour prey!

3 thoughts on “Capitulate DECK

  • September 3, 2021 at 1:18 pm
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    An article on Marketwatch contains speculation that the SEC will approve a futures-based Bitcoin ETF. There’s already GBTC which apparently holds Bitcoin directly, and to me this raises the possibility of contango harvesting in a small, potentially inefficient market. You could go long GBTC and short the new futures-based ETF for a neutral way to play contango. This was not something you could do with VIX, obviously, because there is no fund tangibly holding VIXes.

    Reply
  • September 3, 2021 at 7:09 pm
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    Or, even simpler, hold Bitcoin directly and short the new futures based fund. It would be dangerous though because GBTC has at times exceeded NAV based solely on the enthusiasm of “investors “, and I assume the futures fund could do the same, even in the absence of backwardization.

    Reply

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