I closed STM for a loss.
music selection: “My Kinda Girl” — Chickenfoot
On 13SEP2021, I entered a bull call spread on STM using the 40/45 strikes and 15OCT2021 expiry for about 3.75 a share. The position recently moved against me and was very threatened. With expiry on Friday, it seemed like a good time to cut my losses. I sold for 1.40 a share, booking a 3,054 loss on 13 spreads. That is a 62.7% loss across 31 days of trade in force. I tried mightily to get an attractive fill to exit LSI at a loss as well but couldn’t catch a bid. Will try again tomorrow as that one is well out of the money. AMZN is also out of the money but just barely. I like the chart and am hopeful for a recovery. But I’m looking at anywhere between 2 thousand and 14 thousand in losses for the month so far.
Devour your prey raptors!