Let’s book fast profits on General Motors (GM), Marvell Technology Group (MRVL) and Peloton Interactive (PTON). The market is choppy and there’s no sense leaving profits like this on the table.
GM Nov Week Four (11/27) 40 Put
Current Stock Price: $42.54
Cash in Hand: $0.49
Action: Buy to close the GM Nov Week Four (11/27) 40 Put
Current Option Price: $0.21-$0.22
Recommended Limit: Set your initial limit order at $0.22, but adjust as needed to close today
Profit: $0.27, or $27 per contract
Rate of Return: 0.7% in three days, or 82% on an annualized basis
MRVL Nov Monthly (11/20) 42.50 Put
Current Stock Price: $43.83
Cash in Hand: $0.43
Action: Buy to close the MRVL Nov Monthly (11/20) 42.50 Put
Current Option Price: $0.07-$0.08
Recommended Limit: Set your initial limit order at $0.08, but adjust as needed to close today
Profit: $0.35, or $35 per contract
Rate of Return: 0.8% in three days, or 100% on an annualized basis
PTON Nov Week Four (11/27) 90 Put
Current Stock Price: $103.48
Cash in Hand: $0.88
Action: Buy to close the PTON Nov Week Four (11/27) 90 Put
Current Option Price: $0.30-$0.43
Recommended Limit: Set your initial limit order at $0.37, but adjust as needed to close today
Profit: $0.51, or $51 per contract
Rate of Return: 0.6% in three days, or 69% on an annualized basis