We are not day traders, but the profits we’re sitting on in Citigroup (C) and Marvell Technology (MRVL) are simply too good to pass up. Let’s book them now.
C Sep Week Four (9/24) 65 Put
Current Stock Price: $68.74
Cash in Hand: $0.47
Action: Buy to close the C Sep Week Four (9/24) 65 Put
Current Option Price: $0.09-$0.10
Recommended Limit: Set your initial limit order at $0.10, but adjust as needed to close today
Profit: $0.37, or $37 per contract
Rate of Return: 0.6% in two days, or 104% on an annualized basis
MRVL Sep Week Four (9/24) 60 Put
Current Stock Price: $62.06
Cash in Hand: $0.63
Action: Buy to close the MRVL Sep Week Four (9/24) 60 Put
Current Option Price: $0.17-$0.19
Recommended Limit: Set your initial limit order at $0.18, but adjust as needed to close today
Profit: $0.45, or $45 per contract
Rate of Return: 0.8% in two days, or 137% on an annualized basis