I am recommending we close our Toll Brothers (TOL) put with a small profit.
In addition to Wednesday’s Federal Reserve announcement, competitor Lennar (LEN) is scheduled to announce earnings the same day. This makes closing now the prudent move.
Current Stock Price: $49.05
Cash in Hand: $0.35
Action: Buy to close the TOL Dec Monthly (12/16) 46 Put for around $0.25, but adjust as needed to close today
Profit: $0.10, or $10 per contract