Yesterday I closed my PCLN position for a $40 profit. The whole market is looking weak and I don't want to have too many open positions right now. At around 10 am, PCLN was around 78.3 and my order to Buy 1 PCLN Apr 55 @ $.30 hit.
I originally opened this position March 12th, when I sold it at $.70. The margin requirement was $600. So my actual return on margin was 40/600 or 6.7%. Annualized return was 94.74%. The strike was still almost 30% OTM when I bought to close and probably would've expired worthless, but I'm happy to book some profits in this market.
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