I am recommending we close our Micron Technology (MU) put.
This was a recovery trade where our patience truly paid off, allowing us to walk away with a small profit rather than book a large loss. It’s further proof that we should never abandon a successful company just because its stock takes a hit.
Current Stock Price: $96.40
Cash in Hand: $0.18
Action: Buy to close the MU Jan Week One (1/7) 94 Put
Current Option Price: $0.08-$0.09
Recommended Limit: Set your initial limit order at $0.09, but adjust as needed to close today
Profit: $0.09, or $9 per contract
Rate of Return: 0.1% in 296 days, or 0.1% on an annualized basis