This is a take-the-money-and-run kind of market. We have a chance to exit our CVS Health (CVS), Starbucks (SBUX) and Zoom Video Communications (ZM) positions at a profit, and we’re going to do so.
CVS Mar Week One (3/4) 105 Call
Current Stock Price: $104.46
Cost Basis: $103.34
Action:
- Buy to close the CVS Mar Week One (3/4) 105 Call for around $0.60, but adjust as needed to close today
- Sell shares at market
Profit: $0.52, or $52 per 100 shares
SBUX Mar Week One (3/4) 91 Put
Current Stock Price: $92.82
Cash in Hand: $1.48
Action: Buy to close the SBUX Mar Week One (3/4) 91 Put for around $0.31, but adjust as needed to roll today
Profit: $1.17, or $117 per contract
ZM Mar Monthly (3/18) 85 Put Spread
Current Stock Price: $120.22
Cash in Hand: $0.47
Action:
- Buy to close the ZM Mar Monthly (3/18) 85 Put for around $0.37
- Sell to close the ZM Mar Monthly (3/18) 80 Put for around $0.23
- Set initial debit limit at $0.14, but adjust as needed to roll today
Profit: $0.33, or $33 per spread