Closing our STLD puts to lock in profits and free up capital for new plays.
STLD has moved sharply higher in-line with other steel and other industrial metal stocks. Shares are now well above our $60 strike price and the majority of income for this play is already in the bag. We’re closing the position to lock in those profits and free up our capital for new income opportunities.
- Buy (to close) our STLD November 19th $60 Put
- Limit $0.60 or less
- 1600 Nothing Done
Our trade was not executed at the limit price. We will revisit this position tomorrow and possibly try again.