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Income Madness Trade Alert: JPM

Let’s book profits on our JPMorgan Chase (JPM) spread, earning a 6% return over our $500 in capital allocated. And since the trade was open just four days, our annualized rate of return is an impressive 548%.

Current Stock Price: $107.07

Cash in Hand: $0.54

Action:

  • Buy to close the JPM Oct Week One (10/7) 100 Put for around $0.30
  • Sell to close the JPM Oct Week One (10/7) 95 Put for around $0.06
  • Set initial debit limit at $0.24, but adjust as needed to close today

Profit: $0.30, or $30 per spread

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