ProShares Ultra Bloomberg Natural Gas (BOIL), the 2x leveraged fund that tracks the return of a futures-based natural gas index on a daily basis, is up sharply this morning. This caused the premium on the put we sold to drop below our target exit price. Let’s book profits now.
Current Stock Price: $64.39
Cash in Hand: $0.95
Action: Buy to close the BOIL 18 Aug 50 Put
Recommended Limit: Set your initial limit order at $0.19, but adjust as needed to close today
Profit: $0.76, or $76 per contract
Rate of Return: 1.5% in 13 days