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OIB Trade Alert: KRE

I am recommending we book profits on our SPDR S&P Regional Banking ETF (KRE) put.

While we still have a week till expiration, we have exceeded our rate of return goal. Plus, we have a number of other positions in the financial sector and a Federal Reserve meeting on the horizon.

Current Stock Price: $61.59

Cash in Hand: $0.39

Action: Buy to close the KRE Jul Week Five (7/29) 58 Put

Current Option Price: $0.18-$0.20

Recommended Limit: Set your initial limit order at $0.19, but adjust as needed to close today

Profit: $0.20, or $20 per contract

Rate of Return: 0.3% in three days, or 42% on an annualized basis

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