Close the Avis Budget Group trade for a 27% gain

April 07, 2016 - 6:54 am

On 3/8 we put on a bearish trade on CAR by buying the April $25 Puts and selling the April $22 Puts for a net cost of $0.75 cents. Today we are closing this trade by selling the $25 strike puts for $1.05 and we are buying back the $22 Puts for $0.10. This nets us $0.95 cents for a total profit of 27%.