Corning (GLW) is moving lower today following a big jump on Friday and Monday. Let’s book profits now and free up capital for new trades.
This is our 10th successful trade on the glassmaker so far this year.
Current Stock Price: $36.30
Cash in Hand: $0.50
Action: Buy to close the GLW Nov Monthly (11/20) 35 Put
Current Option Price: $0.09-$0.13
Recommended Limit: Set your initial limit order at $0.11, but adjust as needed to close today
Profit: $0.39, or $39 per contract
Rate of Return: 1.1% in eight days, or 51% on an annualized basis