Let’s book profits on our Lyft (LYFT) and Sonos (SONO) positions. While the rates of return are smaller than we typically target, I want to remain nimble in this market environment, and that means taking profits off the table.
LYFT Feb Monthly (2/18) 41 Put
Current Stock Price: $43.75
Cash in Hand: $0.42
Action: Buy to close the LYFT Feb Monthly (2/18) 41 Put for around $0.14, but adjust as needed to close today
Profit: $0.28, or $28 per contract
SONO Feb Monthly (2/18) 27 Put
Current Stock Price: $28.22
Cash in Hand: $0.33
Action: Buy to close the SONO Feb Monthly (2/18) 27 Put for around $0.15, but adjust as needed to close today
Profit: $0.18, or $18 per contract