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OIB Trade Alert: UAL

I am recommending we close our United Airlines (UAL) put. While we will be giving back a good deal of cash, I’d rather play it safe than sorry.

We will return to the airline sector in the coming weeks with a new trade.

Current Stock Price: $44.53

Cash in Hand: $0.42

Action: Buy to close the UAL May Monthly (5/20) 44 Put

Current Option Price: $0.22-$0.26

Recommended Limit: Set your initial limit order at $0.24, but adjust as needed to close today

Profit: $0.18, or $18 per contract

Rate of Return: 0.4% in four days, or 37% on an annualized basis

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