Below are the trades from today’s Income Madness Live Trading Session.
Action on Existing Positions
I am recommending we close our Marvell Technology Group (MRVL), Toll Brothers (TOL) and Chewy (CHWY) puts.
MRVL Jan Week Two (1/8) 47 Put
Current Stock Price: $48.13
Cash in Hand: $0.54
Action: Buy to close the MRVL Jan Week Two (1/8) 47 Put for around $0.19, but adjust as needed to closed today
Profit: $0.35, or $35 per contract
TOL Jan Week Two (1/8) 41.50 Put
Current Stock Price: $43.88
Cash in Hand: $0.35
Action: Buy to close the TOL Jan Week Two (1/8) 41.50 Put for around $0.08, but adjust as needed to closed today
Profit: $0.27, or $27 per contract
CHWY Jan Week Two (1/8) 92.50 Put
Current Stock Price: $97.88
Cash in Hand: $0.79
Action: Buy to close the CHWY Jan Week Two (1/8) 92.50 Put for around $0.23, but adjust as needed to closed today
Profit: $0.56, or $56 per contract
New Positions
TRADE ONE: Sell to open the Apple (AAPL) Jan Week Two (1/8) 130 Put for around $1.05. You can go as low as $0.96, but please don’t start there and always use limit orders. (Current stock price: $130.17)
TRADE TWO: Sell to open the Crocs (CROX) Jan Monthly (1/15) 65 Put for around $1.70. You can go as low as $1.50, but please don’t start there and always use limit orders. (Current stock price: $66.89)
TRADE THREE: Sell to open the First Solar (FSLR) Jan Monthly (1/15) 100 Put for around $1.26. You can go as low as $1.17, but please don’t start there and always use limit orders. (Current stock price: $106.30)