Closing our BTU puts to lock in profits and free up capital for new plays.
Shares of BTU have pulled back very close to our $19 strike price. And we only have two weeks left until our put contracts expire.
I’m concerned that the volatility in BTU could push the stock below our strike price between now and when the put contracts expired.
Today, the puts are trading at a price just below our entry price. So we can buy out of this agreement and still lock in a small profit. By closing this trade, we’ll be managing our risk and freeing up capital for new income opportunities.
- Buy (to close) our BTU August 19th $19 puts
- Limit $1.00 or less
- 15:28 Executed
- Bot BTU August 19th $19 puts @ $1.00