We’re using our “Parachute Protection Plan” to close both our ALK and Z put positions.
Both ALK and Z have moved below our strike price as the overall market sells off. And while I’m still bullish on travel and the U.S. housing market, we need to have discipline with our positions.
For now, it makes sense to close out our positions until these stocks find support and begin trading higher.
By closing these positions, we’re managing our risk and freeing up capital for new income positions with wider built-in safety buffers.
- Buy (to close) our ALK May 20th $55 Put
- Limit $5.80 or less
- 15:49 Executed
- Bot ALK May 20th $55 Puts @ $5.70
- Buy (to close) our Z May 20th $45 Put
- Limit $7.00 or less
- 15:48 Executed
- Bot Z May 20th $45 Put @ $6.85