We’ve had a great run these last two weeks with closing out three profitable positions including our 200% gain in FireEye Inc. (NYSE: FEYE) Feb. 28, 2020, $16 call.
Today we must manage a losing trade.
- Sell-to-close the Cloudflare, Inc. (NYSE: NET) Feb. 21, 2020, $22.50 call (NET200221C00022500) at the market.
It’s frustrating when we do, but it allows us to quickly move onto the next big opportunity.
Shares of Cloudflare, Inc. (NYSE: NET) are up an outstanding 14% today, but the options contract we have will expire tomorrow.
Our Hot Money Signal was right, but I picked the wrong expiration, which is why we aren't sitting on a double-digit gain.
This lose is on my shoulders, but this spike higher allows us to salvage some of the premium paid and cut bait.
Here’s what to do…
Action to Take:
- In your brokerage account, locate the NET Feb. 21, 2020, $22.50 call:
- Locate the options in your portfolio with the ticker: NET.
- The symbol is NET200221C00022500.
- Select how many contracts you want to sell.
- Once you have the right contract, click "sell to close."
- Choose the "market."
- Then click "sell" to transmit the order.
You can also call your broker and say, "I want to sell to close NET Feb. 21, 2020, $22.50 call (NET200221C00022500) at the market."
Losing can be frustrating, but we’ll continue to follow the system and get them on the next one.
To your wealth, freedom, and options!