Selling our TLT put contracts to lock in profits.
Interest rates are on the rise, sending bonds (including shares of TLT) lower. While this is a trend that should continue for some time, TLT is now oversold and due for a rebound. We’ll close out our put contracts today to lock in profits and protect our trading capital.
From here, we’ll look for a good spot to add new put contracts if bonds stage a relief rally.
- Selling (to close) our TLT May 20th $131 Puts
- Limit $8.60 or more
- 11:01 Executed
- Sold TLT May 20th $131 Puts @ $8.86