Let’s book profits on our expiring Marvell Technology (MRVL) and Walgreens Boots Alliance (WBA) puts rather than risk holding through expiration.
MRVL Sep Monthly (9/17) 61.50 Put
Current Stock Price: $61.88
Cash in Hand: $0.46
Action: Buy to close the MRVL Sep Monthly (9/17) 61.50 Put
Current Option Price: $0.17-$0.25
Recommended Limit: Set your initial limit order at $0.21, but adjust as needed to close today
Profit: $0.25, or $25 per contract
Rate of Return: 0.4% in four days, or 37% on an annualized basis
WBA Sep Monthly (9/17) 48.50 Put
Current Stock Price: $49.36
Cash in Hand: $0.48
Action: Buy to close the WBA Sep Monthly (9/17) 48.50 Put
Current Option Price: $0.04-$0.05
Recommended Limit: Set your initial limit order at $0.05, but adjust as needed to close today
Profit: $0.43, or $43 per contract
Rate of Return: 0.9% in four days, or 81% on an annualized basis