Below are the trades I recommended in today’s Options Income Blueprint Live Trading Session. You can watch a recording of the session here.
Note that option prices may have moved since the Live Trading Session. Please do not chase the trades by accepting less premium than the “go as low as” price recommended below. Work your limit orders but exercise patience and let the trades come to you.
Corning (GLW)
Current Stock Price: $34.34
Action: Sell to open the GLW Oct Monthly (10/16) 34.50 Put
Current Option Price: $0.46-$0.52
Recommended Limit: Set initial limit order at $0.49. You can go as low as $0.41, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Oct. 16
Potential Rate of Return: 1.4% in four days, or 130% on an annualized basis, if this option expires worthless
JPMorgan Chase (JPM)
Current Stock Price: $100.90
Action: Sell to open the JPM Oct Monthly (10/16) 100 Put
Current Option Price: $0.77-$0.80
Recommended Limit: Set initial limit order at $0.78. You can go as low as $0.71, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Oct. 16
Potential Rate of Return: 0.8% in four days, or 71% on an annualized basis, if this option expires worthless
Chewy (CHWY)
Current Stock Price: $65.89
Action: Sell to open the CHWY Oct Monthly (10/16) 63 Put
Current Option Price: $0.45-$0.51
Recommended Limit: Set initial limit order at $0.48. You can go as low as $0.40, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Oct. 16
Potential Rate of Return: 0.8% in four days, or 70% on an annualized basis, if this option expires worthless