JCPennies Into Dollars (JCP) $27 Puts $.04 to $1.39

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The night of JCP earnings the stock was down over 10% after hours. In my market update video I said on a push to $30 I think the $28 and $27 puts would be worth a high risk trade. Sure enough JCP pushed up at the open and breached $30. At that point the puts were a prime risk trade opportunity. They did not disappoint.

The $27 puts have gone from $.04 to $1.39
The $28 puts have gone from $.15 to $2.28

That's $40 into $1,390 for the $27 strike if you got lucky enough to get in at the low and out at the high.
That's $150 into $2,280 for the $28 strike if you got lucky enough to get in at the low and out at the high.

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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