We’re using our “Parachute Protection Plan” to close both our BLNK and CLF put positions.
Both BLNK and CLF are moving lower as traders adjust to higher inflation readings, uncertainty with interest rates, and risks tied to the new omicron coronavirus variant.
While both of these stocks will likely do well in the moths ahead, the current pullback pushed both stock positions below our strike price (or agreement price).
At this point, it makes more sense to close the positions and mange our risk, while looking for an opportunity to roll out NEW income plays in the weeks ahead. That way we can create new income positions with brand new safety buffers built in.
- Buy (to close) our BLNK January 21st $35 Puts
- Limit $7.50 or less
~~~~~~~~~ - 11:11 Executed
- Bot BLNK Jan 21st $35 Puts @ $7.40
ALSO
- Buy (to close) our CLF January 21st $20 Puts
- Limit $2.10 or less
~~~~~~~~~ - 11:11 Executed
- Bot CLF Jan 21st $20 Puts @ $2.03