I am recommending we book profits on our Moderna (MRNA) put position.
Over the weekend, South Africa suspended the use of AstraZeneca’s (AZN) COVID-19 vaccine after a new study showed it was less effective against a variant of the virus found in the country.
The Moderna vaccine has also been shown to be less effective against the South African variant, although it seems to offer more protection than AstraZeneca’s vaccine.
I want to close now rather than risk seeing our profits evaporate on a headline if more data is made public this week.
Note: No action is needed on the MRNA Feb Monthly (2/19) 130/120 Put Spread at this time.
Current Stock Price: $186.09
Cash in Hand: $1.64
Action: Buy to close the MRNA Feb Week Two (2/12) 145 Put for around $0.10
Profit: $1.54, or $154 per contract