Let’s book profits on our Advanced Micro Devices (AMD) and PayPal (PYPL) positions. There is simply too much cash on the table after just one day to keep them open.
I also want to ladder up our Square (SQ) put to generate more income.
AMD Aug Week Four (8/28) 81 Put
Current Stock Price: $85.52
Cash in Hand: $0.81
Action: Buy to close the AMD Aug Week Four (8/28) 81 Put for around $0.24
Profit: $0.57, or $57 per contract
PYPL Aug Week Four (8/28) 195 Put
Current Stock Price: $201.88
Cash in Hand: $1.58
Action: Buy to close the PYPL Aug Week Four (8/28) 195 Put for around $0.48
Profit: $1.10, or $110 per contract
SQ Aug Week Four (8/28) 145 Put
Current Stock Price: $156.47
Net Debit: $6.43
Action:
- Buy to close the SQ Aug Week Four (8/28) 145 Put for around $0.21
- Sell to open the SQ Aug Week Four (8/28) 150 Put for around $0.62
- Set initial credit limit at $0.41
New Net Debit: $6.02