Closing BOTH our APA and ZG put positions to lock in profits and free up capital for new plays.
The broad market weakened today after an initial pop following the Fed meeting. This is concerning and a good reason to lighten up on our exposure. If shares trade lower, we’ll have a good opportunity to set up new income plays with larger payouts.
Both our APA and ZG positions are profitable, but both stocks have traded lower which increases our potential risk. So we’ll use our Parachute Protection Plan today to exit both of these plays.
- Buy (to close) our APA January 21st $25 Puts
- Limit $2.00 or less
- 15:27 Executed
- Bot APA Jan 21st $25 Puts @ $2.00
- Buy (to close) our ZG January 21st $55 Put
- Limit $2.90 or less
- 14:53 Executed
- Bot ZG Jan 21st $55 put @ $2.75