Closing our RIOT puts to manage risk and lock in profits.
Shares of RIOT have pulled back.
Cryptocurrencies are trading lower as investors reduce risk.
And with lower Bitcoin and Ethereum prices, RIOT’s future profits are less certain.
Fortunately, our put contracts are still trading for a reasonable price.
While the trade won’t be as lucrative as we originally expected, I’m happy to book a win in a challenging market.
By closing our RIOT put contracts today, we’ll be locking in a small profit.
We’ll also be managing our risk in case the stock continues lower.
Closing this position also frees up capital that we can use for new income opportunities.
- Buy (to close) our RIOT October 21st $6 puts
- Limit $0.75 or less
- Executed 13:43
- BOT 10 RIOT Oct 21 $6 Puts @ $0.71