The premium on our Roku (ROKU) put has fallen by more than half in just over a day. Let’s book profits now rather than risk holding the position another week and a half.
Current Stock Price: $59.25
Cash in Hand: $0.67
Action: Buy to close the ROKU Feb Week Two (2/10) 50 Put
Current Option Price: $0.24-$0.25
Recommended Limit: Set your initial limit order at $0.25, but adjust as needed to close today
Profit: $0.42, or $42 per contract
Rate of Return: 0.8% in two days, or 153% on an annualized basis