Starbucks (SBUX) is up more than 5% today. I am recommending we close our monthly put early with a very nice profit.
Current Stock Price: $73.93
Cash in Hand: $0.59
Action: Buy to close the SBUX May Monthly (5/20) 67 Put
Current Option Price: $0.16-$0.18
Recommended Limit: Set your initial limit order at $0.17, but adjust as needed to close today
Profit: $0.42, or $42 per contract
Rate of Return: 0.6% in four days, or 57% on an annualized basis