Closing our AAL puts to manage risk.
AAL is trading lower after yesterday’s earnings report. While the company beat expectations, investors are concerned about the potential for a longer-than-expected road before the airline returns to pre-covid level profitability. We’re closing our position with a small loss and freeing up capital for better income plays trending in the right direction.
- Buy (to close) our AAL November 19th $20 Puts
- Limit $1.35 or less
- 11:55 Executed
- Bot AAL Nov 19th $20 Puts @ $1.26