Let’s use today’s market rally to book profits on our Delta Air Lines (DAL), Block (SQ) and Valero (VLO) puts, earning annualized rates of return of 153%, 104% and 15%, respectively.
DAL Aug Monthly (8/19) 31 Put
Current Stock Price: $34.45
Cash in Hand: $0.35
Action: Buy to close the DAL Aug Monthly (8/19) 31 Put for around $0.09, but adjust as needed to close today
Profit: $0.26, or $26 per contract
SQ Aug Week Two (8/12) 74 Put
Current Stock Price: $87.70
Cash in Hand: $0.45
Action: Buy to close the SQ Aug Week Two (8/12) 74 Put for around $0.03, but adjust as needed to close today
Profit: $0.42, or $42 per contract
VLO Aug Monthly (8/19) 100 Put
Current Stock Price: $110.93
Cash in Hand: $0.73
Action: Buy to close the VLO Aug Monthly (8/19) 100 Put for around $0.36, but adjust as needed to close today
Profit: $0.37, or $37 per contract