Trade Alert 5/1/2025

We are making a few more changes to the portfolio today. We will be getting a little bit more “risk off”. We think the odds of a recession has moved up to well over 90% probability. That isn’t the end of the world for markets/stocks long-term. But it would likely reduce the stock markets value if/when it is happening. Could we avoid one? Of course the answer is yes. However, although anything is possible, not everything is probable. We will stick with the side of probability. Sold 50 of our EQT shares and bought back 1 of the covered calls Sold EQT 50 shares at 50.10 Buy to close: EQT June 20th (monthly) 60.00 strike call Debit: 0.32 Sold the remainder of our U.S. Steel (X) position and close the covered calls Sold X 100 shares at 44.10 Buy to close: X May 16th (monthly) 47.00 strike call Debit: 1.10