Sold to close CF


Sold 600 shares of CF at $26.49. This closes the position originally entered on 5/31 at $27.64. Total return less commission was -$707.46. Return per share after commission was -$1.18.


Clearly, this is a miss. On Friday I still bought back the calls to stay in CF Industries, thinking that it might break through its 50-day SMA. Today, it seems decisively beaten back. I didn’t see enough of a struggle at that boundary to make me believe that the stock will mount another run at this declining trend line in the next few days. So, as much as I hate doing it, I am giving up on this one.

If there’s a positive aspect to this, it’s that I at least sold calls twice against this position, and that at least the profits from those trades offset the loss I realized today.

July 18, 2016 at 6:18pm · CF · sell to close · stock

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