Applied Materials (AMAT) is rebounding this morning following its post-earnings sell-off. Let’s use this opportunity to book fast profits on our put position.
Current Stock Price: $109.03
Cash in Hand: $0.70
Action: Buy to close the AMAT May Week Four (5/27) 97 Put for around $0.30, but adjust a needed to close today
Profit: $0.40, or $40 per contract