Let’s book profits on our General Motors (GM) and Herman Miller (MLHR) positions.
GM Feb Week One (2/5) 54 Put
Current Stock Price: $54.48
Cash in Hand: $1.66
Action: Buy to close the GM Feb Week One (2/5) 54 Put for around $0.45
Profit: $1.21, or $121 per contract
MLHR Feb Monthly (2/19) 35 Put
Current Stock Price: $38.22
Cash in Hand: $2.10
Action: Buy to close the MLHR Feb Monthly (2/19) 35 Put for around $0.45
Profit: $1.65, or $165 per contract