Closing our TRIP puts to manage risk.
TRIP is trading lower as travel stocks react negatively to some recent airlines earnings reports. While TRIP should ultimately be a beneficiary of a global travel recovery, the stock is losing momentum for now. I’d prefer to close this position so we can use the capital in better income plays, and revisit TRIP once the stock begins to rebound.
- Buy (to close) our TRIP November 19th $36 Puts
- Limit $3.60 or less
- 14:16 Executed
- Bot TRIP Nov 19th $36 Puts @ $3.50