Chewy (CHWY) is running up today. Let’s book profits on this rolled position.
Current Stock Price: $91.07
Cash in Hand: $1.27
Action: Buy to close the CHWY Aug Week Four (8/27) 85 Put
Current Option Price: $0.19-$0.21
Recommended Limit: Set your initial limit order for $0.20, but adjust as needed to close today
Profit: $1.07, or $107 per contract
Rate of Return: 1.3% in eight days, or 57% on an annualized basis