Let’s keep the profits rolling in by closing our Microsoft (MSFT) spread and Starbucks (SBUX) put. We’ll put the capital to good use in today’s Income Madness Live Trading Session at noon Eastern.
MSFT Sep Week Five (9/30) 220/215 Put Spread
Current Stock Price: $238.22
Cash in Hand: $0.30
Action:
- Buy to close the MSFT Sep Week Five (9/30) 220 Put for around $0.16
- Sell to close the MSFT Sep Week Five (9/30) 215 Put for around $0.08
- Set initial debit limit at $0.08, but adjust as needed to close today
Profit: $0.22, or $22 per spread
SBUX Sep Week Five (9/30) 81 Put
Current Stock Price: $86.04
Cash in Hand: $0.47
Action: Buy to close the SBUX Sep Week Five (9/30) 81 Put for around $0.16, but adjust as needed to close today
Profit: $0.31, or $31 per contract