Selling our SHOP and TWLO put contracts as a bear market rally appears imminent.
The overall market is extremely oversold and due for a sharp rebound. Meanwhile, we’ve locked in strong profits on both SHOP & TWLO before rolling to lower strike prices.
Today, we’ll close out these bearish plays, leaving our speculative model in a bullish position to profit from a bear market rally. We will keep both names on the watch list and possibly re-enter if we get a good setup.
- Selling (to close) our SHOP July 15th $370 Puts.
- Limit $42.00 or more.
~~~~~~ - 10:37 Executed
- Sold SHOP July 15th $370 Puts @ $44.40
ALSO
- Selling (to close) our TWLO July 15th $90 Puts.
- Limit $6.80 or more.
~~~~~~~~ - 10:37 Executed
- Sold TWLO Jul 15th $90 Puts @ $7.35