We have exited the lower strike put in EQT. We talked about this in the class on Monday. We wanted to use a big spike lower in the stock/market to exit this leg. This will leave us “naked” the higher strike put but as always planned, we want to own 100 shares.
Sell to close: EQT Aug 16th (monthly) 33.00 strike put
Credit: 1.52Intel has fallen dramatically overnight. They surprised everyone with the extent of their earnings but the bigger surprise was them slashing the dividend. The rotation out of growth and into value stocks hasn’t worked in the near term. In fact, everything is falling this week sharply. There is quite probably more selling before it is all done. However, we should be able to continue to generate income and profit from hedges/trading while that happens. In the future, we expect to see many of these stocks bounce back and flourish.