6:30pm (EST)
We have an update for one of our current positions so let’s go check the tape.
Profit Alert!
AT&T (T, $18.39, up $0.08)
T April 18 puts (T230421P00018000, $0.45, down $0.10)
Entry Price: $0.40 (3/1/2023)
Exit Target: $0.80
Return: 15%
Stop Target: 46 cents (Stop Limit)
Action: The Stop Limit at 46 cents tripped late in the day so the trade is officially closed.
We have been looking for a close below $18.25 but this level has held the past five session before today’s higher close. We could be back in these options, or a weekly T put option, if shares do close below $18.25. For now, we are out.