2021.03.17 Closed Our CRWD Put Option Position After Strong Earnings

Today our CrowdStrike (CRWD) put option contract (strike: $165; expiration: 16APR2021) short position closed on it’s initial limit order. By setting an aggressive limit order to repurchase the short position, I took advantage of the quick reversal of the option’s fortune.  CRWD sold off with many highly-valued tech companies last week but rebounded nicely after reporting a strong quarter after Tuesday’s close of the trading day. Having sold the contract for $374.30, we netted nearly $200 just five days later. I like CRWD and want to add them to the portfolio, but will be content with writing options contracts when they are attractive until we have more liquidity in the portfolio.

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