The market is selling off on worse-than-expected jobless claims, rising coronavirus infections and the lack of a stimulus package.
We have great profits in Advanced Micro Devices (AMD) and Herman Miller (MLHR). Let’s book them now.
AMD Oct Monthly (10/16) 80 Put
Current Stock Price: $82.77
Cash in Hand: $0.92
Action: Buy to close the AMD Oct Monthly (10/16) 80 Put
Current Option Price: $0.24-$0.26
Recommended Limit: Set your initial limit order at $0.25, but adjust as needed to close today
Profit: $0.67, or $67 per contract
Rate of Return: 0.8% in 10 days, or 31% on an annualized basis
MLHR Oct Monthly (10/16) 30 Put
Current Stock Price: $31.56
Cash in Hand: $0.35
Action: Buy to close the MLHR Oct Monthly (10/16) 30 Put
Current Option Price: $0.05-$0.13
Recommended Limit: Set your initial limit order at $0.10, but adjust as needed to close today
Profit: $0.25, or $25 per contract
Rate of Return: 0.8% in 10 days, or 31% on an annualized basis