Two months ago I decided to go short on Rivian stock. RIVN was trading at around $85 when I made the decision. As such, I have been heavily buying RIVN puts.
I've bought and have been adding to RIVN $70 Jan2023 puts. My profit as of today is approximately $32k, about 48% of the book cost.
This is a nice profit. However, I don't want to be greedy, so I've decided to close my RIVN puts some time before March 10, when Rivian's earnings come out.
Just wanted to share. Thank you. 🙂
(Original Post URL: https://www.reddit.com/r/stocks/comments/rzcyk0/going_short_on_rivn/ )
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