Let’s book profits on our Herman Miller (MLHR) put.
While we have more than two weeks until expiration, there is simply too much cash on the table to pass up.
Current Stock Price: $43.08
Cash in Hand: $0.85
Action: Buy to close the MLHR May Monthly (5/21) 40 Put
Current Option Price: $0.35-$0.45
Recommended Limit: Set your initial limit order at $0.40, but adjust as needed to close today
Profit: $0.45, or $45 per contract
Rate of Return: 1.1% in nine days, or 46% annualized