I am recommending we book fast profits on our Charles Schwab (SCHW) put, earning an excellent annualized rate of return.
Current Stock Price: $58.66
Cash in Hand: $0.28
Action: Buy to close the SCHW Mar Monthly (3/17) 47.50 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: $0.19, or $19 per contract
Rate of Return: 0.4% in two days, or 73% on an annualized basis