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Income Madness Trade Alert: LOW

The premium on our Lowe’s (LOW) bull put spread has fallen to a nickel. Let’s book profits now rather than risk a late-week reversal.

By closing today, we’ll earn 2.3% in just two days, or 414% annualized.

Current Stock Price: $199.88

Cash in Hand: $0.22

Action:

  • Buy to close the LOW Oct Week One (10/7) 187.50 Put for around $0.09
  • Sell to close the LOW Oct Week One (10/7) 180 Put for around $0.04
  • Set initial debit limit at $0.05, but adjust as needed to close today

Profit: $0.17, or $17 per spread

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