Closing our BBBY put position to manage risk and free up capital.
Shares of BBBY traded lower this week, breaking below the 50-day average and our $15 strike price. While the company should still improve profitability and the stock is trading for a discount price, the near-term trend has turned against us.
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 BBBY March 18th $15 Puts
- Limit $2.15 or less
- 10:18 Executed
- Bot BBBY March 18th $15 Puts @ $2.10