My NVDA bull call spread was 9.31% in the red with only 14 days to go till expiry.

music selection:  “Hey Man Nice Shot” — Filter

I bought the NVDA 15OCT2021 expiry 225/227.5 bull call spread on 30AUG2021 for 1.2942 per spread (38 spreads).  It went well underwater with the recent correction and I decided to hold through today to see if a continuing resolution on the budget passed and how the spread responded.  The resolution passed but the stock continued to decline.  I sold today for 20 cents a share.  The trade was in force for 33 days and lost 4,158 (I recovered 760 that was sure to be lost).  That is a 84.5% loss.

I have similar underwater position in LSI that I tried to close today for 11 cents a share.  That failed to clear.  I will try again on Monday as I am 10.25% below the break even price and unlikely to recover that in 14 days.

I have two other October expiring spreads that are threatened.  These are 0.80% and 0.81% below breakeven pricing.  With both still above their 50 and 200 day moving averages, I feel like holding a little longer to see if can turn a profit on the month.

Devour your prey raptors!

Capitulate NVDIA

Never miss another opportunity to devour prey!

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.