While there is no Options Income Blueprint Live Trading Session today, I still want to put on a new position in a familiar stock that has been delivering a good deal of cash for us lately: Micron Technology (MU).
Given market volatility, we are going silly put that is more than 10% out of the money.
Current Stock Price: $69.86
Action: Sell to open the MU Mar Monthly (3/18) 62.50 Put
Current Option Price: $0.30-$0.32
Recommended Limit: Set your initial limit order at $0.31. You can go as low as $0.26, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, March 18
Potential Rate of Return: 0.5% in four days, or 45% annualized, if this option expires worthless