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OIB Trade Alert: SCHW

Charles Schwab (SCHW) is up more than 9% since the company reported better-than-expected earnings last week on record revenue, helped by rising interest rates and more retail trading activity.

Let’s put some capital to work by selling a put.

Current Stock Price: $73.77

Action: Sell to open the SCHW Nov Week One (11/4) 71 Put

Current Option Price: $0.68-$0.73

Recommended Limit: Set your initial limit order at $0.70. You can go as low as $0.63, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, Nov. 4

Potential Rate of Return: 1% in nine days, or 40% annualized, if this option expires worthless

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