Valero (VLO) is rallying today in the face of a broader market decline. Let’s book profits on our put, earning a 47% annualized rate of return.
Current Stock Price: $112.42
Cash in Hand: $1.03
Action: Buy to close the VLO Aug Week One (8/5) 103 Put for around $0.24, but adjust as needed to close today
Profit: $0.79, or $79 per contract