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.
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:
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!