4/23/2022 Plan:
This week we take a look at Crown Castle International (Ticker: CCI)
4/23/2022 Plan (continued):
- CCI – Sell May 20 180/175 put spread for 0.55
- Prices are as of market close 4/22/2022, actual fill and strikes may differ depending on Monday’s open, post will be updated accordingly.
- All trades are for educational purposes and do not constitute advice
4/23/2022 Commentary:
Crown Castle International is a communications infrastructure company – think cell towers. This trade assumes that we maintain the 180 level – CCI is currently trading near $194 for the next 4 weeks. This is a name that I am currently long shares and wouldn’t mind adding some more at lower levels. The company has been growing its dividend steadily, which often helps put a floor under stocks as investors will chase the higher yield.
Feel free to Reach out with questions on this or anything else!
4/25/2022 Entry:
Sold CCI MAY 20 180/175 put spread for 0.72 or 175/170 for 0.45 for those wanting a higher probability trade.
4/30/2022 Update:
We are down some on the put spreads with CCI selling off. No planned change for this week – the trade still has time and we’re above the short strike.
5/7/2022 Update:
Still down some on the CCI put spreads with two more weeks to go. I intend to keep holding while we remain above the short strike.
5/14/2022 Update:
We’re still down on the CCI put spreads with expiration this week. If we can stay above 175, we’ll be profitable on that spread.
5/22/2022 Close:
The CCI put spreads expired worthless, adding 0.72 per spread for the 180/175 or 0.45 for the 175/170 (depending on which you selected. A really nice rebound in the name last week made this a fine winner.
