Let’s book profits on our Lennar (LEN) put, earning a 0.6% return in four days, or 51% annualized, and freeing up capital for new trades.
Current Stock Price: $76.58
Cash in Hand: $0.62
Action: Buy to close the LEN Oct Week One (10/7) 70 Put for around $0.23, but adjust as needed to close today
Profit: $0.39, or $39 per contract