Let’s book profits on our General Motors (GM) and SPDR S&P Regional Banking ETF (KRE) puts.
GM Apr Week Two (4/9) 57 Put
Current Stock Price: $59.89
Cash in Hand: $2.05
Action: Buy to close the GM Apr Week Two (4/9) 57 Put for around $0.20
Profit: $1.85, or $185 per contract
KRE Apr Week Two (4/9) 66 Put
Current Stock Price: $67.24
Cash in Hand: $1.38
Action: Buy to close the KRE Apr Week Two (4/9) 66 Put for around $0.54
Profit: $0.84, or $84 per contract