Selling our ROKU put contracts to lock in profits.
The stock hit a new 52-week low today and appears to be a bit oversold. Plus, we’re heading into a seasonably strong time of year and it wouldn’t be surprising to see the market trade higher over the next few trading days.
For now, we’ll go ahead and close out the position. We may have an opportunity to re-enter a new bearish play after the a rebound or a consolidation.