Below are the trades I recommended in today’s Options Income Blueprint Live Trading and Strategy Session. You can watch a recording of the session here.
Note that option prices may have moved since the Live Trading Session. Please do not chase the trades by accepting less premium than the “go as low as” price recommended below. Work your limit orders but exercise patience and let the trades come to you.
Chewy (CHWY)
Current Stock Price: $56.21
Action: Sell to open the CHWY Aug Monthly (8/21) 54.50 Put
Current Option Price: $0.49-$0.56
Recommended Limit: Set initial limit order at $0.52. You can go as low as $0.44, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Aug. 21
Potential Rate of Return: 1% in four days, or 87% on an annualized basis, if this option expires worthless
Blackstone Group (BX)
Current Stock Price: $53.74
Action: Sell to open the BX Aug Week Four (8/28) 53 Put
Current Option Price: $0.59-$0.63
Recommended Limit: Set initial limit order at $0.61. You can go as low as $0.54, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Aug. 28
Potential Rate of Return: 1.2% in 11 days, or 38% on an annualized basis, if this option expires worthless
CVS Health (CVS)
Current Stock Price: $65.26
Action: Sell to open the CVS Aug Week Four (8/21) 64.50 Put
Current Option Price: $0.63-$0.66
Recommended Limit: Set initial limit order at $0.64. You can go as low as $0.55, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Aug. 28
Potential Rate of Return: 1% in 11 days, or 33% on an annualized basis, if this option expires worthless