Closing BOTH our MU and SSRM put positions to lock in profits and free up capital for new plays.
Shares of MU have traded higher alongside the rebound for several computer chip stocks. MU’s rebound caused the prices for our put contracts to drop (allowing us to buy out of our play at an inexpensive price).
SSRM is trading very close to our $17 strike price. With just one week until expiration, it makes sense to take small profits and exit this trade before our put contracts expire. We can then consider new put contracts for SSRM depending on how the stock trades going forward.
Today we’ll close out both positions early, locking in a portion of our potential gains from each trade and freeing up cash that we can use for new opportunities.
- Buy (to close) our MU March 18th $77.50 Put
- Limit $0.95 or less
~~~~~~~~ - 9:58 Executed
- Bot MU March 18th $77.50 Put @ $0.81
ALSO
- Buy (to close) our SSRM February 18th $17 Puts
- Limit $0.55 or less
~~~~~~~~ - 9:58 Executed
- Bot SSRM Feb 18th $17 Puts @ $0.40