Bull Call Spread ORCL With Yield Up To 421%

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I opened a bull spread in Oracle (ORCL).

music selection:  “Pride & Passion” — John Cafferty and the Beaver Brown Band

weigh-in:  191.4 n/c (really struggling to get back below 190!)

I’m continuing with a bullish tilt on the theory that the trend is my friend.  Big tech is leading the market so a tech company in an uptrend seems like a good bet.  With Oracle (ORCL) trading at 98.14, I bought the 95/97.5 strike bull call spread with December expiry for 1.54 per share.  Across 31 spreads, I put 4,775 in capital at risk over 54 days.  The trade enjoys 1.74% downside protection.

Should the spread finish in the money, the full profit of 2,975 will be earned.  That is good for 62.3% or 421% annualized.  As far as updating my November expiries, all trades are currently fully in the money since CROX and MTCH made nice upward moves last week.  I am still hoping to make an early exit from VIRT before earnings come out on 3NOV2021.  I have a limit order open today at 73 cents a share.

Devour your prey raptors!