I am recommending we book profits on First Solar (FSLR) and Charles Schwab (SCHW) rather than holding through expiration and risk having to roll. There’s simply too much cash on the table to pass up the opportunity.
FSLR Jun Week One (6/4) 74 Put
Current Stock Price: $76.77
Cash in Hand: $0.54
Action: Buy to close the FSLR Jun Week One (6/4) 74 Put
Current Option Price: $0.03-$0.05
Recommended Limit: Set your initial limit order at $0.04, but adjust as needed to close today
Profit: $0.50, or $50 per contract
Rate of Return: 0.7% in four days, or 62% on an annualized basis
SCHW Jun Week One (6/4) 75 Put
Current Stock Price: $75.43
Cash in Hand: $0.60
Action: Buy to close the SCHW Jun Week One (6/4) 75 Put
Current Option Price: $0.14-$0.21
Recommended Limit: Set your initial limit order at $0.18, but adjust as needed to close today
Profit: $0.42, or $42 per contract
Rate of Return: 0.6% in four days, or 51% on an annualized basis