Let’s book profits on our SPDR S&P Retail ETF (XRT) put.
Current Stock Price: $88.09
Cash in Hand: $0.64
Action: Buy to close the XRT Dec Monthly (12/17) 87 Put
Current Option Price: $0.23-$0.25
Recommended Limit: Set your initial limit order at $0.24, but adjust as needed to close today
Profit: $0.40, or $40 per contract
Rate of Return: 0.5% in 10 days, or 17% on an annualized basis