The market is rallying hard today, in part due to optimism about what easing inflation could mean for interest rates and in part due to a massive short squeeze.
Let’s take advantage of this by booking fast profits on our Block (SQ) put.
Current Stock Price: $66.83
Cash in Hand: $0.49
Action: Buy to close the SQ Nov Week Two (11/11) 58 Put
Current Option Price: $0.11-$0.12
Recommended Limit: Set your initial limit order at $0.12, but adjust as needed to close today
Profit: $0.37, or $37 per contract
Rate of Return: 0.6% in three days, or 78% on an annualized basis