Williams-Sonoma’s (WSM) earnings are around the corner. I want to play it safe by booking profits on our standalone put and spread positions.
WSM Nov Monthly (11/19) 185 Put
Current Stock Price: $208.08
Cash in Hand: $7.10
Action: Buy to close the WSM Nov Monthly (11/19) 185 Put for around $2.50, but adjust as needed to close today
Profit: $4.60, or $460 per contract
WSM Nov Monthly (11/19) 165/160 Put Spread
Cash in Hand: $0.50
Action:
- Buy to close the WSM Nov Monthly (11/19) 165 Put for around $0.80
- Sell to close the WSM Nov Monthly (11/19) 160 Put for around $0.50
- Set initial debit limit at $0.30, but adjust as needed to close today
Profit: $0.20, or $20 per contract