I am recommending we close our General Motors (GM) put. The stock has run up and it does not make sense to leave profits on the table and tie up capital any longer.
Current Stock Price: $59.43
Cash in Hand: $0.94
Action: Buy to close the GM Apr Week Two (4/9) 56 Put
Current Option Price: $0.12-$0.13
Recommended Limit: Set your initial limit order at $0.13, but adjust as needed to close today
Profit: $0.81, or $81 per contract
Rate of Return: 1.4% in seven days, or 75% on an annualized basis