Let’s book profits on our Marriott (MAR) and Marathon Petroleum (MPC) puts, earning annualized returns of 32% and 57%, respectively.
MAR Mar Week One (3/3) 167.50 Put
Current Stock Price: $171.90
Cash in Hand: $1.75
Action: Buy to close the MAR Mar Week One (3/3) 167.50 Put for around $0.73, but adjust as needed to close today
Profit: $1.02, or $102 per contract
MPC Mar Week One (3/3) 120 Put
Current Stock Price: $126.45
Cash in Hand: $1.24
Action: Buy to close the MPC Mar Week One (3/3) 120 Put for around $0.31, but adjust as needed to close today
Profit: $0.93, or $93 per contract