Let’s book fast profits – I’m talking less than 24 hours — on our Blackstone (BX) and Lennar (LEN) puts, earnings annualized returns of 150% and 120%, respectively.
BX Nov Week Two (11/11) 85 Put
Current Stock Price: $91.35
Cash in Hand: $1.18
Action: Buy to close the BX Nov Week Two (11/11) 85 Put for around $0.48, but adjust as needed to close today
Profit: $0.70, or $70 per contract
LEN Nov Week Two (11/11) 76 Put
Current Stock Price: $81.56
Cash in Hand: $0.95
Action: Buy to close the LEN Nov Week Two (11/11) 76 Put for around $0.45, but adjust as needed to close today
Profit: $0.50, or $50 per contract