Let’s book fast profits on our Williams-Sonoma (WSM) put. While we will be giving back a good deal of premium, there’s too much cash on the table to leave the trade open for another three weeks.
Plus, our annualized rate of return of 92% is well ahead of our target, making closing now a no-brainer.
Current Stock Price: $129.92
Cash in Hand: $3.75
Action: Buy to close the WSM Feb Monthly (2/17) 124 Put for around $2.50, but adjust as needed to close today
Profit: $1.25, or $125 per contract