Selling JWN puts for income.
Retail stocks are a bright spot in today’s market. While retail stocks have challenges due to supply chain issues, the resolution of any of these problems can help retail stocks trade higher. JWN is breaking out and could have farther to run. Selling the $32.50 put contracts gives us extra buffer while still locking in an attractive amount of income.
- Sell (to open) 2 JWN December 17th $32.50 put
- Limit: $1.40 or more
- The new position will represent roughly 6.4% of our model.
- 14:55 Executed
- Sold 2 JWN Dec 17th $32.50 Puts @ $1.60