It's time to cut bait and move onto the next trade.
Yesterday, chicken companies sold off after a federal grand jury in Colorado indicted current and former executives at Pilgrim's Pride.
The market knee-jerk reaction took down shares of Tyson Foods.
Today, shares recovered and are up 5.74%.
Unfortunately, these options expire tomorrow and there’s a 40% probability shares will trade up to $65.
Let’s be smart and preserve our capital.
Action to Take:
You can also call your broker and say, "I want to sell-to-close the Tyson Foods Inc (NYSE: TSN) June 5, 2020, $65 call (TSN200605C00065000) at the market."
Losing can be frustrating, but we’ll continue to follow the system and get them on the next one.