Let’s book profits on our Visa (V) bull put spread rather than risk holding it another week, earning a 3.6% return in seven days, or 188% annualized.
Current Stock Price: $231.42
Cash in Hand: $0.38
- Buy to close the V Feb Week Two (2/10) 220 Put for around $0.37
- Sell to close the V Feb Week Two (2/10) 215 Put for around $0.17
- Set initial debit limit at $0.20, but adjust as needed to close today
Profit: $0.18, or $18 per spread