Back in December I sold 4 OIHBD (February $120 strikes) for $5.67 and today I closed that position at $1.39 to keep about $4.28 in profits. If you keep an eye on OIH, it bounces up and down like a basketball and I missed an opportunity a few weeks ago to close my position when OIH dipped to $116. I didn’t want to miss this opportunity so I bought back and hope that OIH goes above $120 again over the next couple of weeks. Energy prices are very volatile so I think it’s a prudent move.
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