With the market running up today, we have the opportunity to book excellent profits on our Bank of America (BAC) and YETI Holdings (YETI) positions.
BAC Jun Week One (6/4) 42.50 Put
Current Stock Price: $43.02
Cash in Hand: $0.76
Action: Buy to close the BAC Jun Week One (6/4) 42.50 Put
Current Option Price: $0.24-$0.25
Recommended Limit: Set your initial limit order at $0.25, but adjust as needed to close today
Profit: $0.51, or $51 per contract
Rate of Return: 1.2% in eight days, or 55% on an annualized basis
YETI Jun Monthly (6/18) 82.50 Put
Current Stock Price: $88.23
Cash in Hand: $2.25
Action: Buy to close the YETI Jun Monthly (6/18) 82.50 Put
Current Option Price: $1-$1.15
Recommended Limit: Set your initial limit order at $1.08, but adjust as needed to close today
Profit: $1.17, or $117 per contract
Rate of Return: 1.4% in eight days, or 65% on an annualized basis