Let’s take advantage of today’s rally by booking fast profits on our Block (SQ) put, earning a triple-digit annualized rate of return.
We’ll also be freeing up capital for new trades. Keep an eye on your inbox, as we may put on a new position via alert this week.
Current Stock Price: $66.46
Cash in Hand: $0.81
Action: Buy to close the SQ Sep Monthly (9/16) 57.50 Put
Current Option Price: $0.45-$0.46
Recommended Limit: Set your initial limit order at $0.46, but adjust as needed to close today
Profit: $0.35, or $35 per contract
Rate of Return: 0.6% in two days, or 111% on an annualized basis