I don’t trust this market, specifically highly valued tech outfits. With Apple (AAPL) up around 1% since we put on the position Tuesday, we have a great profit on the table. Let’s book it now.
We may trade the stock again if another opportunity presents itself.
Current Stock Price: $117.93
Cash in Hand: $4.40
Action: Buy to close the AAPL Sep Monthly (9/18) 115 Put
Current Option Price: $2.60-$2.63
Recommended Limit: Set your initial limit order at $2.62, but adjust as needed to close today
Profit: $1.78, or $178 per contract
Rate of Return: 1.5% in three days, or 189% on an annualized basis