Let’s book fast profits on our Williams-Sonoma (WSM) put. While we will be giving back a good deal of premium, there’s too much cash on the table to leave the trade open for another two weeks. Plus, our annualized rate of return is well ahead of our target, making closing now a no-brainer.
Current Stock Price: $116.49
Cash in Hand: $1.70
Action: Buy to close the WSM Dec Monthly (12/16) 105 Put
Current Option Price: $0.90-$1.10
Recommended Limit: Set your initial limit order at $1, but adjust as needed to close today
Profit: $0.70, or $70 per contract
Rate of Return: 0.7% in three days, or 81% on an annualized basis