Selling our PANW call contracts.
Shares of PANW moved lower alongside the broad market thismonth.
Our call contracts are set to expire at the end of the week, and the short-term trend is uncertain given the continued weakness across different areas of the market.
We’ll sell our PANW position today to manage risk and free up capital. I”ll be keeping PANW on my watch list for a potential rebound, but the risk / reward dynamics are less favorable at this point.