I don’t trust this rally and want to lock in profits wherever we can ahead of this month’s Federal Reserve meeting.
Therefore, I am recommending we close our Capri Holdings (CPRI) and Roku (ROKU) puts now. While we are giving back more cash than usual to close, both trades will exceed our 26% annualized rate of return goal.
CPRI Jun Week Two (6/10) 45 Put
Current Stock Price: $49.64
Cash in Hand: $0.57
Action: Buy to close the CPRI Jun Week Two (6/10) 45 Put for around $0.35, but adjust as needed to close today
Profit: $.22, or $22 per contract
ROKU Jun Week Two (6/10) 80 Put
Current Stock Price: $97.67
Cash in Hand: $0.83
Action: Buy to close the ROKU Jun Week Two (6/10) 80 Put for around $0.53, but adjust as needed to close today
Profit: $0.30, or $30 per contract