Let’s book profits on our DoorDash (DASH) put. While our rate of return is below our target, we’re reducing our risk by not holding this volatile consumer discretionary stock through tomorrow’s CPI report. Plus, no one ever went broke taking a profit!
Current Stock Price: $62.77
Cash in Hand: $0.53
Action: Buy to close the DASH Week Two (4/14) 59 Put
Current Option Price: $0.24-$0.28
Recommended Limit: Set your initial limit order at $0.26, but adjust as needed to close today
Profit: $0.27, or $27 per contract
Rate of Return: 0.5% in eight days, or 21% on an annualized basis