Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Position
I am recommending we book profits on Corning (GLW).
Current Stock Price: $40.72
Cash in Hand: $0.41
Action: Buy to close the GLW Jul Week Four (7/23) 40 Put for around $0.09, but adjust as needed to close today
Profit: $0.32, or $32 per contract
TRADE ONE: Sell to open the Chewy (CHWY) Jul Week Five (7/30) 80 Put for around $1.42. You can go as low as $1.25, but please don’t start there and always use limit orders. (Current stock price: $82.53)
TRADE TWO: Sell to open the Bed Bath & Beyond (BBBY) Jul Week Five (7/30) 27 Put for around $0.34. You can go as low as $0.29, but please don’t start there and always use limit orders. (Current stock price: $29.71)