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OIB Trade Alert: GM

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

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