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OIB Trade Alert: GM

I am recommending we ladder up our General Motors (GM) put by rolling to a higher strike. This will bring in more income and boost our potential rate of return.

Current Stock Price: $54.41

Cash in Hand: $0.99

Action:

  • Buy to close the GM Feb Week One (2/5) 50 Put for around $0.03
  • Sell to open the GM Feb Week One (2/5) 52.50 Put for around $0.23
  • Set your initial credit limit at $0.20, but adjust as needed to roll today

New Cash in Hand: $1.19

Expiration: After the close on Friday, Feb. 5

Potential Rate of Return: 2.3% in 11 days, or 75% on an annualized basis, if this option expires worthless

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