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OIB Trade Alert: GLW

As expected, Corning (GLW) found support and is climbing back up. If ever a position demonstrated there is nothing wrong with selling an in-the-money-put, this is it!

Let’s book profits now.

Current Stock Price: $37.41

Cash in Hand: $1.54

Action: Buy to close the GLW Jan Monthly (1/15) 37 Put

Current Option Price: $0.46-$0.48

Recommended Limit: Set your initial limit order at $0.47, but adjust as needed to close today

Profit: $1.07, or $107 per contract

Rate of Return: 2.9% in 17 days, or 62% on an annualized basis

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