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Income Masters Trade Alert: WSM

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

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