I am recommending we book profits on our Toll Brothers (TOL) put, earning a solid rate of return and freeing up capital for new trades.
Current Stock Price: $60.42
Cash in Hand: $0.55
Action: Buy to close the TOL Apr Week Two (4/14) 56 Put
Current Option Price: $0.20-$0.30
Recommended Limit: Set your initial limit order at $0.25, but adjust as needed to close today
Profit: $0.30, or $30 per contract
Rate of Return: 0.5% in six days, or 33% on an annualized basis