United Airlines (UAL) fell shortly after we entered the trade this week, and I don’t trust the current market rally. Therefore, I am recommending we close our put with a small profit rather than roll out a week.
Current Stock Price: $45.87
Cash in Hand: $0.35
Action: Buy to close the UAL Jun Week One (6/3) 45 Put
Current Option Price: $0.29-$0.33
Recommended Limit: Set your initial limit order at $0.31, but adjust as needed to close today
Profit: $0.04, or $4 per contract
Rate of Return: 0.1% in three days, or 11% on an annualized basis