Leisure is heading even lower

Over the past two weeks we've entered into 4 long Put positions on companies that are ultra-sensitive to the effects of the ongoing global pandemic. We hope nothing more than for everyone to be healthy, for companies to recover quickly, and for an end to the spread across the world.  In the meantime there are some emerging trends that will be here to stay for a while.

Companies such as Six Flags (SIX) will face a difficult time seeing business as usual this summer, and the stock has already dropped from close to $60 to $25, shedding over 50%.

Today we bought the June 2020 $20 Puts for $1.80, these options expire in just under four months and will rise in value if SIX goes lower.