I am recommending we book profits on our Southwest Airlines (LUV) put. While we are giving back more cash than usual, today is not the day to get greedy.
Current Stock Price: $46.58
Cash in Hand: $0.37
Action: Buy to close the LUV May Week One (5/6) 43.50 Put for around $0.16, but adjust as needed to close today
Profit: $0.21, or $21 per contract