I am recommending we close on our Johnson & Johnson (JNJ) and Microsoft (MSFT) positions, pocketing excellent one-day profits.
While we will be giving back a bit more cash than we typically would on JNJ, I don’t want to risk having to roll the position when the company is expected to announce vaccine data next week.
JNJ Jan Week Five (1/29) 167.50 Put
Current Stock Price: $170.37
Cash in Hand: $0.95
Action: Buy to close the JNJ Jan Week Five (1/29) 167.50 Put for around $0.30
Profit: $0.65, or $65 per contract
MSFT Jan Week Five (1/29) 232.50 Put
Current Stock Price: $241.89
Cash in Hand: $1.61
Action: Buy to close the MSFT Jan Week Five (1/29) 232.50 Put for around $0.17
Profit: $1.44, or $144 per contract