Close the Uber option trade for a 103% Gain

July 18, 2023 - 12:33 pm

We are closing the $45 strike UBER Calls that expire in a few days for $2.40, which we purchased for $1.40 and we're letting the short Puts ride for a few days with the $40 strike which should expire at $0.  This trade was put on for a net cost of $0.79 cents, and this return represents a $1.61 gain for a net return of 103% in 1 month!