Closing our BTU puts to lock in profits.
Shares of BTU are up sharply this week.
Energy prices are rising as OPEC announces a cut to oil 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 BTU put contracts 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 BTU October 21st $20 puts
- Limit $0.15 or less
- Executed 14:05
- BOT 3 BTU Oct 21 $20 Puts @ $0.11