We have positions in Citigroup (C) and Sonos (SONO) expiring today.
I am recommending we close our C put rather than risk holding through expiration, as I am a little uncomfortable with how the banks are trading.
Our SONO put is deep in the money. Therefore, I am recommending we accept shares. We will sell a call against them soon.
C Oct Week One (10/1) 71 Put
Current Stock Price: $70.87
Cash in Hand: $0.57
Action: Buy to close the C Oct Week One (10/1) 71 Put for around $0.37, but adjust as needed to close today
Profit: $0.20, or $20 per share
Rate of Return: 0.3% in four days, or 26% on an annualized basis
SONO Oct Week One (10/1) 38 Put
Current Stock Price: $31.69
Cash in Hand: $1.10
Action: Accept shares
Cost Basis: $36.90