We were patient with our entry into a position in The Trade Desk (TTD) this week, and that patience paid off handsomely.
We utilized a good ‘til canceled (GTC) order in Tuesday’s Live Trading Session when we weren’t seeing the price we wanted. And we canceled that order the next day after the trade ran away from us, opting to enter a new trade at a higher strike price.
With today’s more than 6% pop in the stock, we have a chance to exit now, booking an excellent rate of return in less than 24 hours.
Current Stock Price: $89.46
Cash in Hand: $0.76
Action: Buy to close the TTD 28 Jul 78 Put
Recommended Limit: Set your initial limit order at $0.25, but adjust as needed to close today
Profit: $0.51, or $51 per contract
Rate of Return: 0.7% in one day