Exited My UAL Puts

On Monday, with United Airlines (UAL) at $27.97 I sold 10 UAL 4/24/20 $25 Puts. I received a 60¢ for $600. Today the market was up most of the day, however, going into the close the market started dropping. With the market going down UAL fell below $26 and closed at $25.72. I really don’t want to own another 1000 shares of the stock, so with it at $25.70 with another day left to the week, I looked to get out of my $25 Put. The premium was at 25¢ so I thought it was a great opportunity to grab a $350 profit and get out of the obligation to buy the stock if it goes to $25 tomorrow. I put the Buy to Close order in with 3 minutes to go in the day and I was filled. This was a 3 day trade with a $350 profit. I love it!

4/20/20 – Sell to Open 10 UAL 4/24/20 $25.00 P @ 60¢ (+$600)

4/23/20 – Buy to Close 10 UAL 4/24/20 $25.00 P @ 25¢ (-$250)  

  Profit +$350

Take a look at my “Active Trades” page. I have a lot going on. This week I should lock in some nice profits.

Successful Trading,

Steve

The Options Coach