United Airlines (UAL) has moved against us, but today’s reversal in the stock is allowing us to exit with a tiny loss. In this market, that is the right move.
Current Stock Price: $36.76
Cash in Hand: $0.35
Action: Buy to close the UAL Jul Week Two (7/8) 35 Put
Current Option Price: $0.36-$0.39
Recommended Limit: Set your initial limit order at $0.38, but adjust as needed to close today
Loss: $0.03, or $3 per contract
Rate of Return: –0.1% in eight days, or -4% on an annualized basis