Selling our PAYX and BABA call contracts to manage risk.
Both stocks are weakening as the broad market trades lower. I’m hesitant to close too many of our bullish plays because the broad market is oversold and should still be due for a more sustained rally.
But in the interest of risk management and taking a more balanced approach, we’ll close these two bullish plays today and free up capital for new opportunities in the days ahead.
- Selling (to close) our BABA May 20th $85 Calls.
- Limit $11.50 or more.
~~~~~~~ - 15:16 Executed
- Sold BABA May 20th $85 Calls @ $11.60
ALSO
- Selling (to close) our PAYX May 20th $125 Calls.
- Limit $2.60 or more.
~~~~~~~ - 15:16 Executed
- Sold PAYX May 20th $125 Calls @ $2.60