EBAY 7/22 expiration, vertical put spread expired worthlessly
On 7/19 I entered into a EBAY put vertical spread with 7/22 expiration. The spread consisted of a long leg of 15 contracts with strike $25.50 bought for 42¢, and a short leg of 15 contracts with strike $24.00 bought for 13¢. That spread has now expired worthlessly. Total loss including commission is $463.95. Loss per share after commission is 31¢ (In case of ratio’ed spreads, I always calculate per share profit/loss based on the size of the more expensive leg).
EBay had a very convincing earnings report this week. In hindsight, I should have had more confidence in the original long position.