General Motors (GM) is up more than 3% today, so I am recommending we book profits on our put position.
Current Stock Price: $55.52
Cash in Hand: $0.99
Action: Buy to close the GM Mar Week Two (3/12) 52.50 Put
Current Option Price: $0.25-$0.27
Recommended Limit: Set your initial limit order at $0.26, but adjust as needed to close today
Profit: $0.73, or $73 per contract
Rate of Return: 1.4% in seven days, or 73% on an annualized basis