Let’s book fast profits on our Advanced Micro Devices (AMD) and Peloton Interactive (PTON) positions.
AMD Oct Week One (10/2) 77.50 Put
Current Stock Price: $83.74
Cash in Hand: $0.57
Action: Buy to close the AMD Oct Week One (10/2) 77.50 Put
Current Option Price: $0.05-$0.06
Recommended Limit: Set your initial limit order at $0.06, but adjust as needed to close today
Profit: $0.51, or $51 per contract
Rate of Return: 0.7% in three days, or 80% on an annualized basis
PTON Oct Week One (10/2) 91 Put
Current Stock Price: $103.48
Cash in Hand: $0.65
Action: Buy to close the PTON Oct Week One (10/2) 91 Put
Current Option Price: $0.05-$0.06
Recommended Limit: Set your initial limit order at $0.06, but adjust as needed to close today
Profit: $0.59, or $59 per contract
Rate of Return: 0.6% in three days, or 79% on an annualized basis