While our Cheniere Energy (LNG) position is a longer-term put, the rally in the share price of the liquefied natural gas producer has dropped the premium below our target exit price.
By closing now, we can book nearly 60% of the maximum profit in 11 days. Let’s do it.
Current Stock Price: $155.16
Cash in Hand: $1.85
Action: Buy to close the LNG 18 Aug 135 Put for around $0.75, but adjust as needed to close today
Profit: $1.10, or $110 per contract