Let’s book fast profits on our General Motors (GM) and Micron Technology (MU) puts, freeing up capital for new trades.
GM Jan Week Two (1/14) 60 Put
Current Stock Price: $62.35
Cash in Hand: $0.51
Action: Buy to close the GM Jan Week Two (1/14) 60 Put for around $0.08, but adjust as needed to close today
Profit: $0.43, or $43 per contract
MU Jan Week Two (1/14) 93 Put
Current Stock Price: $96.75
Cash in Hand: $0.52
Action: Buy to close the MU Jan Week Two (1/14) 93 Put for around $0.10, but adjust as needed to close today
Profit: $0.42, or $42 per contract