Let’s try this again! Block (SQ) is bouncing around today but has moved back into a good closeout range. I am recommending we exit the position now, as the annualized rate of return is well above our target.
Current Stock Price: $82.73
Cash in Hand: $0.48
Action: Buy to close the SQ Feb Week Two (2/10) 76 Put
Current Option Price: $0.17-$0.18
Recommended Limit: Set your initial limit order at $0.18, but adjust as needed to close today
Profit: $0.30, or $30 per contract
Rate of Return: 0.4% in two days, or 72% on an annualized basis