We’re using our “Parachute Protection Plan” to close both our APA and CF put positions.
Fears of a recession have driven energy and fertilizer prices lower. And while I still expect these areas to rebound, our put contracts are set to expire tomorrow.
We’ll go ahead and close out of both of these positions while keeping the stocks on our watch list. Once the market begins to stabilize, we may set up new income plays for both APA and CF.
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 APA July 15th $40 Puts
- Limit $9.20 or less
~~~~~~~~ - 13:58 Executed
- Bot APA July 15th $40 Puts @ $9.02
ALSO
- Buy (to close) our CF July 15th $90 Put
- Limit $10.10 or less
~~~~~~~~ - 13:58 Executed
- Bot CF July 15th $90 Put @ $9.55