Chewy (CHWY) is up nicely today, and we’ve exceeded our annualized rate of return goal. Let’s book profits now and free up capital for new trades this week.
Current Stock Price: $43.35
Cash in Hand: $0.35
Action: Buy to close the CHWY Jan Week Four (1/27) 37 Put
Current Option Price: $0.07-$0.08
Recommended Limit: Set your initial limit order at $0.08, but adjust as needed to close today
Profit: $0.27, or $27 per contract
Rate of Return: 0.7% in five days, or 53% on an annualized basis