Let’s book fast profits on our Delta Air Lines (DAL) and Western Digital (WDC) puts.
DAL May Week Four (5/27) 35 Put
Current Stock Price: $38.42
Cash in Hand: $0.29
Action: Buy to close the DAL May Week Four (5/27) 35 Put
Current Option Price: $0.08-$0.09
Recommended Limit: Set your initial limit order at $0.09, but adjust as needed to close today
Profit: $0.20, or $20 per contract
Rate of Return: 0.6% in two days, or 104% on an annualized basis
WDC Jun Week One (6/3) 51 Put
Current Stock Price: $57.89
Cash in Hand: $0.47
Action: Buy to close the WDC Jun Week One (6/3) 51 Put
Current Option Price: $0.19-$0.22
Recommended Limit: Set your initial limit order at $0.21, but adjust as needed to close today
Profit: $0.26, or $26 per contract
Rate of Return: 0.5% in two days, or 93% on an annualized basis