We’re using our “Parachute Protection Plan” to close both our RCL and WYNN put positions.
Both RCL and WYNN have moved below our strike price as the overall market sells off. Rising inflation has started to weigh on consumer sentiment. And this will likely have more of an effect on luxury travel than previously expected.
For now, it makes sense to close out our positions until these stocks find support and begin trading higher.
By closing these positions, we’re managing our risk and freeing up capital for new income positions with wider built-in safety buffers.
- Buy (to close) our RCL July 15th $50 Put
- Limit $6.25 or less
~~~~~~ - 14:45 Executed
- Bot RCL July 15th $50 Put @ $6.18
ALSO
- Buy (to close) our WYNN July 15th $67.50 Put
- Limit $7.50 or less
~~~~~~~~ - 14:45 Executed
- Bot WYNN July 15th $67.50 Put @ $7.41