Let’s book fast profits on our Salesforce (CRM) bull put spread and Charles Schwab (SCHW) put.
CRM Dec Week Two (12/9) 125/120 Put Spread
Current Stock Price: $130.39
Cash in Hand: $0.22
Action:
- Buy to close the CRM Dec Week Two (12/9) 125 Put for around $0.15
- Sell to close the CRM Dec Week Two (12/9) 120 Put for around $0.03
- Set initial debit limit at $0.12, but adjust as needed to close today
Profit: $0.10, or $10 per contract
SCHW Dec Week Two (12/9) 80 Put
Current Stock Price: $80.68
Cash in Hand: $0.53
Action: Buy to close the SCHW Dec Week Two (12/9) 80 Put for around $0.32, but adjust as needed to close today
Profit: $0.21, or $21 per contract