Closing our CLF puts to manage risk and free up capital.
Shares of CLF are moving lower in-line with the broad market. While the steel company should still benefit from manufacturing demand, the stock is still under pressure.
By closing this trade out early we’re taking a loss. But we’re also managing our risk and freeing up capital that can be used for new income plays that are currently working well. Disciplined trading like this will help us succeed over the long run.
- Buy (to close) our CLF February 18th $23 Puts
- Limit $3.85 or less
- 14:57 Executed
- Bot CLF Feb 18th $23 Puts @ $3.74