Selling our SHOP put contracts.

Shares of SHOP have traded above our strike price and above key resistance levels after Black Friday sales topped expectations.

While the stock still carries a nosebleed valuation (leaving the stock vulnerable to a sharp selloff), investors are buying. So the short-term trend is now bullish and we need to exit our bearish position.

I’ll continue to watch SHOP for new bearish opportunities. I expect us to be able to profit from the stock’s decline in the near future.

By selling our put contracts today, we’re managing our risk and freeing up capital for new plays that are working in today’s market.

• Selling (to close) our SHOP January 20th $42 Puts
• Limit $3.10 or more

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• Executed 10:22
• SOLD 18 SHOP Jan 20th $42 Puts @ $3.40