We have an opportunity to close our JPMorgan Chase (JPM) and Microsoft (MSFT) positions for excellent profits.
With our JPM put, we will earn 1.1% in seven days, or 57% annualized. And by closing our MSFT spread early, we will earn an absolute return of 11.9% in one week.
JPM Aug Week Four (8/28) 97.50 Put
Current Stock Price: $99.28
Cash in Hand: $1.80
Action: Buy to close the JPM Aug Week Four (8/28) 97.50 Put for around $0.73
Profit: $1.07, or $107 per contract
MSFT Oct Monthly (10/16) 200/Aug Week Four (8/28) 215 Call Spread
Current Stock Price: $214.06
Cost Basis: $15
- Buy to close the MSFT Aug Week Four (8/28) 215 Call for around $2.49
- Sell to close the MSFT Oct Monthly (10/16) 200 Call for around $19.27
Profit: $1.78, or $178 per spread