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Income Madness Trade Alert: CRM

Our Salesforce (CRM) spread does not expire for another 10 days, but the price has already fallen to around a dime. It’s not worth the risk of holding that long to eek out a few more cents in premium.

Let’s close it now, booking a 4.2% return over our $500 in capital allocated. And since the trade was open just five days, our annualized rate of return is 307%.

Current Stock Price: $155.50

Cash in Hand: $0.30

Action:

  • Buy to close the CRM Oct Week Two (10/14) 130 Put for around $0.18
  • Sell to close the CRM Oct Week Two (10/14) 125 Put for around $0.09
  • Set initial debit limit at $0.09, but adjust as needed to close today

Profit: $0.21, or $21 per spread

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