This is not the kind of market where it pays to be greedy. Let’s book a modest profit on our Starbucks (SBUX) put now.
Current Stock Price: $97.27
Cash in Hand: $0.59
Action: Buy to close the SBUX Nov Monthly (11/18) 97 Put
Current Option Price: $0.34-$0.37
Recommended Limit: Set your initial limit order at $0.36, but adjust as needed to close today
Profit: $0.23, or $23 per contract
Rate of Return: 0.2% in four days, or 21% on an annualized basis