The premium on our Blackstone (BX) put has dropped by more than half and we’ve hit our rate-of-return goal.
Let’s book profits now rather than holding another four trading days, earning a 0.7% return in seven days, or 36% annualized, and freeing up capital for new trades.
Current Stock Price: $85.18
Cash in Hand: $1
Action: Buy to close the BX Mar Week Five (3/31) 80 Put for around $0.45, but adjust as needed to close today
Profit: $0.55, or $55 per contract