Closing our OXY puts to lock in profits.
Shares of OXY have traded higher following OPEC’s production cut this week.
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 OXY 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 OXY October 21st $60 put
- Limit $0.50 or less
- Executed 10:16
- BOT 2 OXY Oct 21 $60 Puts @ $0.50