Closing our Z puts to manage risk and free up capital.
Zillow reported earnings last night and the results frustrated investors. Of particular note is the fact that Zillow is exiting the home buying business and will no longer be making offers to homeowners who want to sell. It may wind up selling a large portion of it’s portfolio of homes at less-than-stellar prices. Shares have moved sharply lower. We’ll close this position to free up capital for better income plays.
- Buy (to close) our Z November 19th $90 Puts
- Limit $23.70 or less
- 12:48 Executed
- Bot Z November 19th $90 Puts @ $23.05