Let’s book profits on our FedEx (FDX) bull put spread, earning a 5.4% return in 13 days, or 152% annualized.
Current Stock Price: $210.35
Cash in Hand: $0.37
Action:
- Buy to close the FDX Feb Monthly (2/17) 197.50 Put for around $0.16
- Sell to close the FDX Feb Monthly (2/17) 192.50 Put for around $0.06
- Set initial debit limit at $0.10, but adjust as needed to close today
Profit: $0.27, or $27 per spread