Closing our ANF put position to manage risk and free up capital.
Shares of ANF traded lower this week after a disappointing earnings announcement. While there’s still a chance the stock could rebound, I don’t like holding positions that are well below our strike price. I’d rather close out the play, reassess the situation, and then possibly set up a new play for ANF once the dust settles.
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 ANF March 18th $38 Puts
- Limit $6.50 or less
~~~~~~~~ - 15:26 Executed
- Bot ANF March 18th $38 Puts @ $6.44