Closing our CHK puts to lock in profits.
Shares of CHK are up sharply this week.
Energy prices are rising as OPEC prepares to cut production and Europe braces for winter natural gas shortages.
The higher stock price naturally pushes the market price for our put contract lower.
Which means we can “buy out” of our agreement at a cheap price.
By closing our CHK put contract today, we’ll be locking in an attractive profit.
We’ll also free up capital that we can use for new income opportunities.
- Buy (to close) our CHK October 21st $85 put
- Limit $0.60 or less
- Executed 12:34
- BOT 1 CHK Oct 21 $85 Put @ $0.44