Securing Profits on Expiring SOFI and BAC
Take Profit Alert for Thursday Jan 16, 2025
Take Profit Alert
I am closing one of my SOFI options positions expiring tomorrow to lock in significant profits while maintaining the other position for further potential gains. Here’s the breakdown:
SOFI -8 Jan 17 (1D) 15P: Closing with a 96.07% profit, generating $684 in realized gains. With expiration tomorrow, the risk/reward balance favors securing these gains now.
SOFI -7 Jan 31 (15D) 15.5P: I am keeping this position open to potentially capture additional premium as it has more time until expiration and remains well-positioned for further gains.
This approach allows me to lock in profits on a highly successful trade while staying invested in the longer-term position to maximize potential returns. Balancing profit-taking and opportunity is critical for disciplined trading.
I am closing my full BAC options position to secure realized gains and reduce risk as the spread has achieved strong returns. Here’s the breakdown:
BAC Bullish Put Spread
BAC +60 Jan 17 (1D) 45P: $4,470 loss, BAC -60 Jan 17 (1D) 46P: Closing with a $6,060 gain, capturing a strong return on this leg of the trade.
BAC Call
BAC +17 Jan 17 (1D) 46C: Closing with a $272 loss, as the position has limited upside potential given the current market conditions.
Total:
The combined positions result in a net profit of $1,318. Closing now ensures I lock in these profits while avoiding any additional risks heading into expiration.
*Disclaimer The examples in The Options Oracle are my opinion, not financial advice.
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Nice!