Closing our CG put position to manage risk and free up capital.
Shares of CG traded lower this week, breaking below the 200-day average and some minor support levels. While I still like the company and may re-enter new income plays with CG later, the stock looks vulnerable at this point.
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.
- Buy (to close) our CG February 18th $50 Put
- Limit $4.00 or less
~~~~~~~~~~ - 15:15 Executed
- Bot CG Feb 18th $50 Put @ $4.00