Delta Air Lines (DAL) is up 5% this morning. Let’s book profits now, freeing up capital for new trades.
Current Stock Price: $31.12
Cash in Hand: $0.43
Action: Buy to close the DAL Jul Week One (7/1) 28 Put
Current Option Price: $0.15-$0.18
Recommended Limit: Set your initial limit order at $0.17, but adjust as needed to close today
Profit: $0.26, or $26 per contract
Rate of Return: 0.9% in four days, or 85% on an annualized basis