This is the kind of market where you take fast profits. Let’s close our Delta Air Lines (DAL) put now with a triple-digit annualized rate of return.
Current Stock Price: $43.10
Cash in Hand: $0.32
Action: Buy to close the DAL Apr Week Five (4/29) 40 Put
Current Option Price: $0.09-0.10
Recommended Limit: Set your initial limit order at $0.10, but adjust as needed to close today
Profit: $0.22, or $22 per contract
Potential Rate of Return: 0.6% in two days, or 100% on an annualized basis