Today’s rally is giving us a chance to book fast profits on Chewy (CHWY) and Corning (GLW).
CHWY Oct Week Four (10/23) 62 Put
Current Stock Price: $67.90
Cash in Hand: $1.27
Action: Buy to close the CHWY Oct Week Four (10/23) 62 Put
Current Option Price: $0.33- $0.37
Recommended Limit: Set your initial limit order at $0.35, but adjust as needed to close today
Profit: $0.92, or $92 per contract
Rate of Return: 1.5% in four days, or 136% on an annualized basis
GLW Oct Week Four (10/23) 34.50 Put
Current Stock Price: $35.04
Cash in Hand: $0.85
Action: Buy to close the GLW Oct Week Four (10/23) 34.50 Put
Current Option Price: $0.33-$0.36
Recommended Limit: Set your initial limit order at $0.35, but adjust as needed to close today
Profit: $0.50, or $50 per contract
Rate of Return: 1.4% in four days, or 133% on an annualized basis