Image Source: Match Group

I closed MTCH for a loss.

music selection:  “Yyz” — Rush

On 27SEP2021, I bought the 160/165 strikes bull call spread with 19NOV2021 expiry in MTCH for 2.70 a share (18 spreads).  I put 4,860 capital at risk.  The spread has been threatened for some time.  I decided to hold through yesterday’s earnings announcement.  MTCH disappointed on the top line and issued weak guidance.  Shares fell in after hours trading.  Inexplicably, shares are up today. But not enough to give confidence it can finish in the money without a catalyst.

I sold today for a little less than 85 cents a share, booking a 3,332 loss of 68.6%.  I target about a 70% stop loss for these positions and that is about right.  I have four remaining positions open for the November expiry.  They are all safely in the money and I project to book short term gains for the month (including today’s loss) of 10,047.

Devour your prey raptors!