Let’s spend a few cents to close our Block (SQ) put. While it’s currently on track to expire worthless, I don’t want to risk a late-day reversal. Plus, we’ll be freeing up capital for new trades.
Current Stock Price: $56.91
Cash in Hand: $0.34
Action: Buy to close the SQ Sep Week Five (9/30) 53 Put for around $0.03, but adjust as needed to close today
Profit: $0.31, or $31 per contract