Close the AT&T Puts for a 20% Gain in 1 month

On Feb 4 we bought Puts on AT&T at the April $34 strike, and today there was an annoucement that Apple will replace AT&T in the Dow Jones index of 30 companies.  The stock is down in trading this morning to $33.55 and we are closing our puts.

We are selling the AT&T April $34 Puts for $1.21, for a net profit of 0,17 cents, which represents an 20% gain.