Closing our HPQ put position to manage risk and free up capital.
Shares of HPQ traded lower this week, breaking back down below the 50-day average and our $37 strike price. While the stock still represents a discount compared t expected earnings, the near-term trend has turned bearish.
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 HPQ March 18th $37 Puts
- Limit $3.40 or less
- 15:00 Executed
- Bot 2 HPQ March 18th $37 Puts @ $3.35