I am recommending we close our Figs (FIGS), Sunrun (RUN) and Walgreens Boots Alliance (WBA) puts.
FIGS and RUN have seen some big swings in recent days. I want to book profits on these monthly puts now to avoid the risk of potentially having to roll them into November.
I also want to take profits off the table in WBA before the company reports earnings on Thursday.
FIGS Oct Monthly (10/15) 35 Put
Current Stock Price: $36.26
Cash in Hand: $0.90
Action: Buy to close the FIGS Oct Monthly (10/15) 35 Put
Current Option Price: $0.45-$0.60
Recommended Limit: Set your initial limit order at $0.55, but adjust as needed to close today
Profit: $0.35, or $35 per contract
Rate of Return: 1% in 15 days, or 24% on an annualized basis
RUN Oct Monthly (10/15) 45 Put
Current Stock Price: $47.89
Cash in Hand: $3.22
Action: Buy to close the RUN Oct Monthly (10/15) 45 Put
Current Option Price: $0.35-$0.40
Recommended Limit: Set your initial limit order at $0.40, but adjust as needed to close today
Profit: $2.82, or $282 per contract
Rate of Return: 6.3% in 35 days, or 65% on an annualized basis
WBA Oct Monthly (10/15) 45 Put
Current Stock Price: $47.46
Cash in Hand: $0.66
Action: Buy to close the WBA Oct Monthly (10/15) 45 Put
Current Option Price: $0.41-$0.46
Recommended Limit: Set your initial limit order at $0.44, but adjust as needed to close today
Profit: $0.22, or $22 per contract
Rate of Return: 0.5% in eight days, or 22% on an annualized basis