Let’s book profits on our Crocs (CROX), Marvell Technology Group (MRVL) and Target (TGT) puts.
I am also recommending we roll our Starbucks (SBUX) position.
CROX Nov Monthly (11/20) 50 Put
Current Stock Price: $57.06
Cash in Hand: $1.75
Action: Buy to close the CROX Nov Monthly (11/20) 50 Put for around $0.48
Profit: $1.27, or $127 per contract
MRVL Nov Week One (11/6) 40 Put
Current Stock Price: $40.31
Cash in Hand: $1.08
Action: Buy to close the MRVL Nov Week One (11/6) 40 Put for around $0.31
Profit: $0.77, or $77 per contract
SBUX Nov Week One (11/6) 85 Put
Current Stock Price: $90.79
Cash in Hand: $11.29
Action:
- Buy to close the SBUX Nov Week One (11/6) 85 Put for around $0.03
- Sell to open the SBUX Nov Week Two (11/13) 87.50 Put for around $0.67
- Set initial credit limit at $0.64
New Net Debit: $10.65
TGT Nov Week One (11/6) 160 Put
Current Stock Price: $158.74
Cash in Hand: $4.24
Action: Buy to close the TGT Nov Week One (11/6) 160 Put for around $1.91
Profit: $2.33, or $233 per contract