Closing BOTH our APA and BTU put positions to lock in profits and free up capital for new plays.
Shares of both APA and BTU benefited from strong demand and limited supplies for different sources of energy. As the stock prices move higher, prices for our put contracts have declined.
That’s good news, because it means there’s less of a likelihood we will be obligated to buy shares. And we’re now able to buy out of our promise at a lower price (keeping more income in our account).
Today we’ll close out both positions early, locking in a large portion of our potential gains from each trade and freeing up cash that we can use for new opportunities. We will keep both names on our watch list, and may roll out new income plays in the future.
- Buy (to close) our APA June 17th $37.50 Puts
- Limit $0.45 or less
~~~~~~ - 10:44 Executed
- Bot APA June 17th $37.50 Puts @ $0.41
ALSO
- Buy (to close) our BTU June 17th $18 Puts
- Limit $0.20 or less
~~~~~~~~ - 10:44 Executed
- Bot BTU Jun 17th $18 Puts @ $0.16