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OIB Trade Alert: DHI, INTC, PTON

The market is tired, so let’s book profits on D.R. Horton (DHI) and Peloton Interactive (PTON).

Note that I marked the cash in hand for PTON at the recommended go as low as price, since the premium dropped shortly after I recommended the position and never hit the stated midpoint.

I am also recommending we roll our Intel (INTC) put up to continue chipping away at our net debit.

DHI Nov Week Two (11/13) 65 Put

Current Stock Price: $73.11

Cash in Hand: $0.41

Action: Buy to close the DHI Nov Week Two (11/13) 65 Put

Current Option Price: $0.02-$0.05

Recommended Limit: Set your initial limit order at $0.04, but adjust as needed to close today

Profit: $0.37, or $37 per contract

Rate of Return: 0.6% in three days, or 69% on an annualized basis

INTC Nov Week Two (11/13) 45 Put

Current Stock Price: $45.52

Net Debit: $6.36

Action:

  • Buy to close the INTC Nov Week Two (11/13) 45 Put for around $0.16
  • Sell to open the INTC Nov Week Four (11/27) 46 Put for around $1.20
  • Set your initial credit limit at $1.04, but adjust as needed to roll today

New Net Debit: $5.32

 

Potential Rate of Return: I am targeting breakeven for this position.

PTON Nov Week Two (11/13) 88 Put

Current Stock Price: $110.15

Cash in Hand: $0.50

Action: Buy to close the PTON Nov Week Two (11/13) 88 Put

Current Option Price: $0.05-$0.06

Recommended Limit: Set your initial limit order at $0.06, but adjust as needed to close today

Profit: $0.44, or $44 per contract

Rate of Return: 0.5% in three days, or 61% on an annualized basis

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