Let’s book fast profits on our Lennar (LEN) put. While it does not expire until next month, by closing early we are earning a 0.7% return in three days, or 87% annualized.
Current Stock Price: $81.03
Cash in Hand: $1.25
Action: Buy to close the LEN Aug Monthly (8/19) 70 Put for around $0.75, but adjust as needed to close today
Profit: $0.50, or $50 per contract