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OIB Trade Alert: BAC, SCHW

Let’s book profits on our Bank of America (BAC) and Charles Schwab (SCHW) positions, earning excellent rates of return and freeing up capital for new trades.

BAC May Monthly (5/21) 41 Put

Current Stock Price: $42.79

Cash in Hand: $0.57

Action: Buy to close the BAC May Monthly (5/21) 41 Put

Current Option Price: $0.06-$0.07

Recommended Limit: Set your initial limit order at $0.07, but adjust as needed to close today

Profit: $0.50, or $50 per contract

Rate of Return: 1.2% in eight days, or 56% on an annualized basis

SCHW May Monthly (5/21) 70 Call

Current Stock Price: $72.92

Cost Basis $67.36

Action:

  • Buy to close the SCHW May Monthly (5/21) 70 Call for around $3.10, but adjust as needed to close today
  • Sell shares at market

Profit: $2.46, or $246 per contract

Rate of Return: 3.6% in 22 days, or 59% on an annualized basis

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