#BearCallSpreads – After seeing a crude oil chart yesterday with Carter Worth talking about the potential downside in oil I’m moving my naked call into bear call spreads. Going out in time and increasing size to make it worthwhile. I believe DRIP will be below 70 by 2021. Recently I’ve been trying to really cap my losses to the upside and this helps with that.

Rolled DRIP DEC 20 2019 115.0 Call to JAN 15 2021 70.0/80.0 Bear Call Spreads

Total credit in the spreads is now 1.60 per spread. I look at this as being similar to long term UVXY positions I’ve had in the past on huge spikes…