Let’s book fast profits on our Charles Schwab (SCHW) put, earning a triple-digit annualized rate of return.
Current Stock Price: $79.06
Cash in Hand: $0.70
Action: Buy to close the SCHW Nov Week One (11/4) 71 Put
Current Option Price: $0.10-$0.17
Recommended Limit: Set your initial limit order at $0.14, but adjust as needed to close today
Profit: $0.56, or $56 per contract
Rate of Return: 0.8% in two days, or 144% on an annualized basis