Pfizer (PFE) is continuing its move higher today. With the company set to report earnings on Wednesday, I am recommending we book profits on the position. We may trade PFE again following the announcement.
Current Stock Price: $41.82
Cash in Hand: $0.97
Action: Buy to close the PFE Jul Week Five (7/30) 39.50 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: $0.88, or $88 per contract
Rate of Return: 2.2% in 14 days, or 58% on an annualized basis