This is not the kind of market where it pays to be greedy. Today’s rally is allowing us to book a profit on Block (SQ), hitting our rate-of-return goal and freeing up capital for new trades.
Current Stock Price: $56.25
Cash in Hand: $0.43
Action: Buy to close the SQ Sep Week Five (9/30) 49 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: $0.25, or $25 per contract
Rate of Return: 0.5% in five days, or 37% on an annualized basis