Rolling our TLT put contracts to a lower strike price.

This lets us lock in profits, frees up cash for new trades, and reduces our capital at risk.

• Sell (to close) the TLT May 20th $135 Puts
• Buy (to open) the TLT May 20th $131 Puts
• Limit: CREDIT of $3.00 or more
• New position will represent roughly 8.2% of our Spec Model capital
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• 9:58 Executed
• Sold TLT May 20th $135 puts @ $9.32
• Bot TLT May 20th $131 Puts @ $6.31
• Net Credit: $3.01