Selling our PYPL call contracts.
Shares of PYPL have rebounded from their lows, handing us a nice gain on our trade.
Meanwhile, some of the speculative names I’m watching have begun to roll over, and I’m becoming concerned that PYPL may also trade lower.
With plenty of uncertainty in today’s market, I’m happy to take our PYPL profits off the table for now, and keep the stock on my watch list.
By closing this bullish position, we’ll be a bit more balanced between bullish and bearish positioning, which reduces our overall risk to the broad market.