I bought bull call spreads in LSI.
music selection: “Turn Me On” — Accept
Life Storage (LSI) has a year to date chart that basically one straight movement up. I bought a bull call spread to capitalize on that momentum. With shares trading at 127.81, I bought 21 bull spreads with the 125/130 strikes and 15OCT2021 expiry for 2.40 per share. The trade enjoys 0.32% downside protection to break even. I need 1.71% price gain in 39 days to realize the full profit of 108.3% or 1,014% annualized. I have 5,040 in capital at risk.
I have three trades that are in the green but threatened. Those are TEL, NVDA, and LSI. Current expected short term capital gains are 3,635 for September and 12,210 for October.