I am recommending we close our JPMorgan Chase (JPM) bull put spread ahead of today’s Federal Reserve post-meeting briefing.
Current Stock Price: $170.20
Cash in Hand: $0.29
- Buy to close the JPM Nov Week One (11/5) 165 Put for around $0.22
- Sell to close the JPM Nov Week One (11/5) 162.50 Put for around $0.11
- Set initial debit limit at $0.11, but adjust as needed to close today
Profit: $0.18, or $18 per contract