Walgreens Boots Alliance (WBA) is rallying today following an excellent earnings report from competitor CVS Health (CVS). Let’s book profits.
Current Stock Price: $49.13
Cash in Hand: $0.51
Action: Buy to close the WBA Nov Week One (11/5) 48 Put
Current Option Price: $0.11-$0.13
Recommended Limit: Set your initial limit order at $0.12, but adjust as needed to close today
Profit: $0.39, or $39 per contract
Rate of Return: 0.8% in nine days, or 33% on an annualized basis