We’re not day traders, but we’re also not going to let an outstanding profit slip away just because a trade has only been open for a matter of hours. Let’s close our Block (SQ) put now, earning 0.6% in one day, or 204% annualized.
Current Stock Price: $56.49
Cash in Hand: $0.52
Action: Buy to close the SQ Oct Week One (10/7) 50 Put for around $0.24, but adjust as needed to close today
Profit: $0.28, or $28 per contract