Closing BOTH our CG and SLB put positions to lock in profits and free up capital for new plays.
Shares of CG have been moving higher as the market rebounds. The private equity company should be able to charge higher fees as its investment positions trade higher.
Shares of SLB benefited from strong demand and limited supplies for different sources of energy.
As both 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 CG July 15th $35 Puts
- Limit $0.70 or less
~~~~~~ - 12:18 Executed
- Bot CG Jul 15th $35 Puts @ $0.70
ALSO
- Buy (to close) our SLB July 15th $42.50 Puts
- Limit $1.00 or less
~~~~~~~~ - 12:18 Executed
- Bot SLB Jul 15th $42.50 Puts @ $1.00