Closing our OSTK puts to manage risk and free up capital.
OSTK traded sharply lower this month despite strong consumer spending. Part of the reason this stock fell was the trend for investors to move capital out of growth names and into stocks of companies with more reliable profits. Shares are now well below our $85 strike price, and a rebound is now less likely since the stock hasn’t benefited from the overall positive market trend.
We’ll close this trade out today, freeing up capital for more profitable opportunities on deck.
- Buy (to close) our OSTK January 21st $85 Put
- Limit $23.50 or less
- 11:30 Executed
- Bot OSTK Jan 21st $85 Put @ $22.90