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OIB Trade Alert: BAC

Let’s book profits on Bank of America (BAC). We will look to trade it again soon.

Current Stock Price: $24.84

Cash in Hand: $0.72

Action: Buy to close the BAC Nov Week One (11/6) 24 Put

Current Option Price: $0.25-$0.27

Recommended Limit: Set your initial limit order for $0.26, but adjust as needed to close the position today

Profit: $0.46, or $46 per contract

Rate of Return: 1.9% in eight days, or 88% on an annualized basis

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