Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Position
I am recommending we book profits on our Lululemon Athletica (LULU) spread.
Current Stock Price: $384.15
Cash in Hand: $0.36
Action:
- Buy to close the LULU Apr Monthly (4/14) 340 Put for around $0.08
- Sell to close the LULU Apr Monthly (4/14) 330 Put for around $0.06
- Set initial debit limit at $0.02, but adjust as needed to close today
Profit: $0.34, or $34 per contract
New Positions
TRADE ONE: Sell to open Nike (NKE) Apr Monthly (4/14) 125 Put for around $0.53. You can go as low as $0.46, but please don’t start there and always use limit orders. (Current stock price: $127.16)
TRADE TWO: Sell to open the Gilead Sciences (GILD) Apr Week Four (4/22) 61 Put for around $0.60. You can go as low as $0.54, but please don’t start there and always use limit orders. (Current stock price: $61.76)
TRADE THREE: Sell to open the ZIM Integrated Shipping Services (ZIM) Apr Week Four (4/22) 50 Put for around $0.55. You can go as low as $0.45, but please don’t start there and always use limit orders. (Current stock price: $55.42)