Energy stocks are rallying today. Let’s book profits on Marathon Petroleum (MPC), freeing up capital for new trades.
Current Stock Price: $90.56
Cash in Hand: $0.92
Action: Buy to close the MPC Jul Week One (7/1) 85 Put
Current Option Price: $0.33-$0.39
Recommended Limit: Set your initial limit order at $0.36, but adjust as needed to close today
Profit: $0.56, or $56 per contract
Rate of Return: 0.7% in eight days, or 30% on an annualized basis