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
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• 11:01 Executed
• Sold TLT May 20th $131 Puts @ $8.86