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OIB Trade Alert: AAPL, GLW

I am recommending we close our Apple (AAPL) and Corning (GLW) positions with modest profits. Both companies are scheduled to report earnings next week, so I do not want to roll out.

AAPL Oct Week Four (10/23) 115 Put

Current Stock Price: $115.63

Cash in Hand: $1.25

Action: Buy to close the AAPL Oct Week Four (10/23) 115 Put

Current Option Price: $0.91-$0.93

Recommended Limit: Set your initial limit order at $0.92, but adjust as needed to close today

Profit: $0.33, or $33 per contract

Rate of Return: 0.3% in three days, or 35% on an annualized basis

GLW Oct Week Four (10/23) 35 Put

Current Stock Price: $35.19

Cash in Hand: $0.39

Action: Buy to close the GLW Oct Week Four (10/23) 35 Put

Current Option Price: $0.19-$0.23

Recommended Limit: Set your initial limit order at $0.21, but adjust as needed to close today

Profit: $0.18, or $18 per contract

Rate of Return: 0.5% in three days, or 63% on an annualized basis

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