Let’s book fast profits on our Novavax (NVAX) put, earning an excellent annualized rate of return.
Current Stock Price: $41.37
Cash in Hand: $0.47
Action: Buy to close the NVAX Aug Monthly (8/19) 35 Put
Current Option Price: $0.20-$0.21
Recommended Limit: Set your initial limit order at $0.21, but adjust as needed to close today
Profit: $0.26, or $26 per contract
Rate of Return: 0.7% in five days, or 54% on an annualized basis