It’s always a good Monday when you can close a trade for profits!
Ticker: LNG (Cheniere Energy)
Trade Action: Close the existing put spread for a debit of around 0.55
BTC 15 DEC 165 put
STC 15 DEC 160 put
Note: We initially took in 1.16 in credit, so closing for 0.55 will give us a nice 15% return on risk from our entry date on 11/7.
Let’s also take this opportunity to close out of the IWM iron fly position. While the market remains overbought, it does tend to enjoy a holiday week. This trade will lose value if the market drifts higher.
Ticker: IWM (Russell 2000 ETF)
Trade Action: Close the existing iron fly for a debit of around 4.11
BTC 15 DEC 174 call
STC 15 DEC 179 call
BTC 15 DEC 174 put
STC 15 DEC 169 put