I am recommending we book fast profits on our Chewy (CHWY) put, earning a triple-digit annualized rate of return on our first winning trade of the new year.
Current Stock Price: $36.05
Cash in Hand: $0.32
Action: Buy to close the CHWY Jan Week One (1/6) 33 Put
Current Option Price: $0.12-$0.14
Recommended Limit: Set your initial limit order at $0.13, but adjust as needed to close today
Profit: $0.19, or $19 per contract
Rate of Return: 0.6% in two days, or 105% on an annualized basis