Let’s book fast profits on our 3M (MMM) put.
Current Stock Price: $106.21
Cash in Hand: $0.70
Action: Buy to close the MMM 5 May 103 Put
Current Option Price: $0.32-$0.37
Recommended Limit: Set your initial limit order at $0.35, but adjust as needed to close today
Profit: $0.35, or $35 per contract
Rate of Return: 0.3% in three days