Close the Autodesk Options for a 57% Gain
May 15, 2014 - 9:48 amWe sold the May $44 strike Puts on Autodesk (ADSK) on March 31, 2014 at $0.67 cents, and today they are trading at $0.29 cents. We are closing these puts since they report earnings today, and even though it's likely that the stock won't drop below $44 on the news we are closing the position to lock in the gains. We don't see ADSK dropping below $44 in tomorrow's trading session, but it's not worth the risk at this point, so we'll close the position and book a 56.7% gain on the 45 day trade.