Closing our BROS puts ahead of expiration.
Our BROS put contracts are set to expire on Friday.
Shares traded sharply lower after the company’s earnings report last week. While BROS is growing its franchise, investors are currently wary of companies that are expanding during this uncertain economic period.
We’ll be closing this position out at a loss today. But the stock is up from the worst levels immediately after the earnings report, and we’ll be freeing up capital for new income plays that have buffers of safety built in.
- Buy (to close) our BROS May 20th $50 Put
- Limit $24.50 or less
- 10:24 Executed
- Bot BROS May 20th $50 Put @ $24.10