Selling our LRCX put contracts to manage risk.
Shares of LRCX are moving higher after the most recent selloff. The stock is a bit oversold and could move significantly higher before running into resistance.
Computer chip stocks like LRCX could once again catch investors attention as global demand picks up. And the stock’s valuation is low enough to support a higher price. So we’ll go ahead and close out this position before the stock moves any higher.
While we’ll be taking a small loss on our current contracts, we already locked in a large gain on our original put contracts with a higher strike.
- Selling (to close) our LRCX May 20th $520 Puts
- Limit $47.00 or more
- 13:36 Executed
- Sold LRCX May 20th $520 Puts @ $49.30