Southwest Airlines (LUV) has moved against us, but we can exit now with a small profit. Let’s do so.
Netflix (NFLX) is running up with other streaming services today. Let’s book profits on our bull put spread.
LUV Jul Week Two (7/8) 35 Put
Current Stock Price: $36.14
Cash in Hand: $0.35
Action: Buy to close the LUV Jul Week Two (7/8) 35 Put for around $0.30, but adjust as needed to close today
Profit: $0.05, or $5 per contract
NFLX Jul Monthly (7/15) 150/145 Put Spread
Current Stock Price: $182.44
Cash in Hand: $0.39
Action:
- Buy to close the NFLX Jul Monthly (7/15) 150 Put for around $0.57
- Sell to close the NFLX Jul Monthly (7/15) 145 Put for around $0.38
- Set initial debit limit at $0.19, but adjust as needed to close today
Profit: $0.20, or $20 per spread