Let’s book profits on our Lowe’s (LOW) bull put spread, earning an 8% return in seven days, or 417% annualized.
Current Stock Price: $203.64
Cash in Hand: $0.53
- Buy to close the LOW Apr Monthly (4/21) 190 Put for around $0.26
- Sell to close the LOW Apr Monthly (4/21) 185 Put for around $0.13
- Set initial debit limit at $0.13, but adjust as needed to close today
Profit: $0.40, or $40 per spread