Salesforce (CRM) is up more than 6% today thanks to the tech rally. Let’s book profits on our spread now, earnings a 4.8% absolute return.
I also want to close out our SPDR S&P Regional Banking ETF (KRE) put. While we will only be booking a small profit, our patience paid off and we avoided a loss on the position.
CRM Jun Week Two (6/10) 160/155 Put Spread
Current Stock Price: $187.02
Cash in Hand: $0.33
- Buy to close the CRM Jun Week Two (6/10) 160 Put for around $0.20
- Sell to close the CRM Jun Week Two (6/10) 155 Put for around $0.11
- Set initial debit limit at $0.09, but adjust as needed to close today
Profit: $0.24, or $24 per spread
KRE Jun Week One (6/3) 62.50 Put
Current Stock Price: $64.20
Cash in Hand: $0.25
Action: Buy to close the KRE Jun Week One (6/3) 62.50 Put for around $0.09, but adjust as needed to close today
Profit: $0.16, or $16 per contract