Closing our FSLR puts to lock in profits and free up capital for new plays.
Shares of FSLR have moved sharply higher over the last few trading sessions. The “Inflation Reduction Act” will drive spending for solar energy and investors are buying shares ahead of expected profit growth.
With the stock trading higher, the price for our put contracts has moved sharply lower. This gives us an opportunity to “buy out” of our agreement at a much lower price.
I’ll continue to keep shares of FSLR on my watch list for future income plays.
Buying back our put contract allows us to lock in a very attractive profit over a short period of time. It also frees up capital for new income opportunities.
- Buy (to close) our FSLR September 16th $92.50 put
- Limit $1.85 or less
- 10:55 Executed
- Bot FSLR September 16th $92.50 put @ $1.84