ZIM Integrated Shipping Services (ZIM) has spiked more than 8% today. Let’s book profits on our put.
Current Stock Price: $62.17
Cash in Hand: $2.80
Action: Buy to close the ZIM May Monthly (5/20) 55 Put
Current Option Price: $1.70-$1.90
Recommended Limit: Set your initial limit order at $1.80, but adjust as needed to close today
Profit: $1, or $100 per contract
Potential Rate of Return: 1.8% in 15 days, or 44% on an annualized basis