Closing the Euronav Puts for $1,130 Profit per 10 Lot

I am closing the EURN puts to lock in about half of the credit collected by selling and rolling these puts during the past couple of months. I am still bullish on tankers and have plenty of exposure remaining. Since the volatility of tanker options has been dropping, it makes sense to me to buy back the puts. I will consider buying calls if tanker stock prices find more weakness and volatility remains depressed.

Bought EURN Aug 10 Puts for 1.10 debit.

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