I am recommending we close our remaining positions — the Advanced Micro Devices (AMD) put and the Lululemon Athletica (LULU) spread — and shut the books on another wildly successful round of Income Madness.
We closed 20 winners in a row. Traders who sold just one contract of each could have earned $1,203 in income.
I hope you enjoyed Income Madness as much as I did, and I look forward to trading with you again in the future.
AMD Jan Week Four (1/22) 90.50 Put
Current Stock Price: $94.96
Cash in Hand: $1.11
Action: Buy to close the AMD Jan Week Four (1/22) 90.50 Put for around $0.03
Profit: $1.08, or $108 per contract
LULU Jan Week Four (1/22) 335/325 Put Spread
Note: For Income Masters members, today’s profit will count against our net debit on the ongoing LULU position. I will recommend a new spread on the stock soon.
Current Stock Price: $347.20
Cash in Hand: $0.55
- Buy to close the LULU Jan Week Four (1/22) 335 Put for around $0.11
- Sell to close the LULU Jan Week Four (1/22) 325 Put for around $0.04
- Set initial debit limit at $0.07, but adjust as needed to close today
Profit: $0.48, or $48 per spread