I am recommending we book profits on our Apple (AAPL), JPMorgan Chase (JPM) and PayPal (PYPL) bull put spreads. This is not the kind of market where you want to look a gift horse in the mouth.
AAPL Feb Monthly (2/18) 162.50/157.50 Put Spread
Note: No action is needed on the AAPL Feb Week Two (2/11) 172.50 Put at this time.
Current Stock Price: $175.61
Cash in Hand: $0.61
Action:
- Buy to close the AAPL Feb Monthly (2/18) 162.50 Put for around $0.33
- Sell to close the AAPL Feb Monthly (2/18) 157.50 Put for around $0.19
- Set initial debit limit at $0.14, but adjust as needed to close today
Profit: $0.47, or $47 per spread
JPM Feb Monthly (2/18) 140/130 Put Spread
Current Stock Price: $157.24
Cash in Hand: $0.55
Action:
- Buy to close the JPM Feb Monthly (2/18) 140 Put for around $0.07
- Sell to close the JPM Feb Monthly (2/18) 130 Put for around $0.02
- Set initial debit limit at $0.05, but adjust as needed to close today
Profit: $0.50, or $50 per spread
PYPL Feb Week Two (2/11) 105/95 Put Spread
Current Stock Price: $121.98
Cash in Hand: $0.25
Action:
- Buy to close the PYPL Feb Week Two (2/11) 105 Put for around $0.03
- Sell to close the PYPL Feb Week Two (2/11) 95 Put for around $0.01
- Set initial debit limit at $0.02, but adjust as needed to close today
Profit: $0.23, or $23 per spread