Let’s book fast profits on our Crocs (CROX) put.
While the cost to close remains about a dime above our original target exit price, there’s too much cash sitting on the table after just 24 hours to risk holding the position through the weekend given the added uncertainty surrounding the debt ceiling debate.
So, let’s close it now and end the week with some more cash in our pockets.
Current Stock Price: $117.66
Cash in Hand: $1.05
Action: Buy to close the CROX 9 Jun 100 Put
Recommended Limit: Set your initial limit order at $0.55, but adjust as needed to close today
Profit: $0.50, or $50 per contract
Rate of Return: 0.5% in one day