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OIB Trade Alert: BAC

I am recommending we close our Bank of America (BAC) put.

Current Stock Price: $36.24

Cash in Hand: $0.40

Action: Buy to close the BAC Mar Week One (3/5) 35.50 Put

Current Option Price: $0.11-$0.12

Recommended Limit: Set your initial limit order at $0.12, but adjust as needed to close today

Profit: $0.28, or $28 per contract

Rate of Return: 0.8% in three days, or 96% on an annualized basis

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