Exit Existing Position - Survey Monkey (SVMK)
The rolling market crash of the past three weeks is continuing today. This has unfortunately caused many overnight gap downs that have hurt our positions before we could act.
And while the calls sales that we made against our stock positions have helped cushion the blow, I have to take my cues from the market, and reduce our exposure by closing one position today:
To execute this trade, you need to:
Sell your Survey Monkey (SVMK) Stock, and
Buy to close your April 22.5 Call
For example, you could sell SVMK stock at 11.5 and Buy to Close the April 22.5 call for $0.10 or less
Once you have executed the stock sale order and closed the option you will no longer own a position in SVMK.