Let’s book profits on our Starbucks (SBUX) put, earning a solid annualized rate of return.
Current Stock Price: $90.28
Cash in Hand: $0.87
Action: Buy to close the SBUX Oct Week Two (10/14) 85 Put
Current Option Price: $0.47-$0.49
Recommended Limit: Set your initial limit order at $0.48, but adjust as needed to close today
Profit: $0.39, or $39 per contract
Rate of Return: 0.5% in three days, or 56% on an annualized basis