Let’s book profits on our Apple (AAPL), JPMorgan Chase (JPM) and Starbucks (SBUX) puts.
The profit on SBUX is tiny, but given market conditions and how much capital we have at work, I want to close it now rather than risk having to roll the position.
AAPL Feb Week One (2/4) 172.50 Put
Note: No action is needed on the AAPL Feb Monthly (2/18) 162.50/157.50 Put Spread at this time.
Current Stock Price: $174.92
Cash in Hand: $1.55
Action: Buy to close the AAPL Feb Week One (2/4) 172.50 Put for around $0.64, but adjust as needed to close today
Profit: $0.91, or $91 per contract
JPM Feb Week One (2/4) 148 Put
Note: No action is needed on the JPM Feb Monthly (2/18) 140/130 Put Spread at this time.
Current Stock Price: $149.97
Cash in Hand: $0.97
Action: Buy to close the JPM Feb Week One (2/4) 148 Put for around $0.47, but adjust as needed to close today
Profit: $0.50, or $50 per contract
SBUX Feb Week One (2/4) 96 Put
Current Stock Price: $96.39
Cash in Hand: $0.64
Action: Buy to close the SBUX Feb Week One (2/4) 96 Put for around $0.57, but adjust as needed to close today
Profit: $0.07, or $7 per contract