I am recommending we book profits on our Bank of America (BAC) put.
Note that I may open positions via alert before Thursday’s Live Trading Session (register here), so keep an eye on your email.
Current Stock Price: $37.49
Cash in Hand: $0.31
Action: Buy to close the BAC Mar Week Two (3/12) 36.50 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: $0.25, or $25 per contract
Rate of Return: 0.7% in three days, or 83% on an annualized basis