5/22/2022 Plan:
This week we take a look at Lowes (Ticker: LOW)
5/22/2022 Plan (continued):
- LOW- Sell the Jun 17 165/160 put spread for 0.59
- Prices are as of market close 5/20/2022, 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
5/22/2022 Commentary:
Big sell off in lots of retailers recently (just take a look at Target (Ticker: TGT), yikes). With housing demand still pretty strong, despite mortgage rate increases, I like LOW to hold the 165 level for the next few weeks. As a bonus, I’m looking at CCI again – pretty volatile name, but we could sell put spreads at even lower levels this time…
Feel free to Reach out with questions on this or anything else!
5/23/2022 Entry:
Sold Jun 17 165/160 put spreads in LOW for 0.51
5/29/2022 Update:
The LOW put spreads are only worth 0.08 after a big end to the week with many names popping higher and LOW now near $200. Given there are still 3 weeks, no issue with closing and re-allocating capital if needed for more profitable opportunities.
6/5/2022 Update:
The LOW put spread is down to 0.04. With 2 full weeks, I’d suggest just closing. I intend to do so tomorrow and banking the profit and reducing portfolio risk.
6/11/2022 Update:
The LOW put spreads, if you did not close them, are worth 0.10. As a reminder, they expire this week. They are still profitable and should be unless LOW Really plummets.
6/17/2022 Close:
The LOW put spreads expired worthless bringing in $51 of profit per put spread sold. Nice. I will look at more LOW put spreads with the market continuing to decline.
