Option Sell to Close MOTQE

This evening we submitted a market order to sell all of our options of MOTQE that were purchased on April 21. It will be fulfilled tomorrow morning. We are changing our intial strategy – the level of resistance identified at $20.50 was too optimistic, especially when seen in greater detail on the 6-month graph below. Drawing a line from the 2 lowest closing prices last February and March brings us to where we currently are now. Given the risk to begin with of simple put option strategies such as this, we are comfortable with our gains and are choosing to risk selling too soon rather than too late.


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