#Earnings #SpreadConversion Sold to close $LOW stock for 78.25. Cleared out half of my position, salvaging failed iron butterfly into a profitable trade. Will look for higher prices to sell the remainder, with a stop at 77.50. I don’t want to hold the stock long-term.

#Earnings #SpreadConversion That’s a new hashtag I just made up for converting an ITM credit spread into a stock position.

LOW original position: 79.5/81.5/83.5 iron butterfly for 1.48. Exited some more LOW stock at 77.75 (cost basis 77.10). Closed remaining long puts, so will be assigned on more with cost basis of 77.50.

RGLD original position: 87.5/85 put spreads for 1.25. Sold my long 85 puts for 1.82 (avg price). Will be assigned stock via 87.5 puts, cost basis will be 84.43.

Won’t take much to recover with profits from both positions, despite having a max loss if I’d allowed to expire as spreads.