$61 profit in Abbvie (ABBV)
- themoneyloaf
- Nov 23, 2023
- 2 min read
Hello!
This week: $61 profit in Abbvie (ABBV)
$61 profit in ABBV
On Oct 27, ABBV reported earnings and the market didn't seem to like what they had to say, and the stock dipped.
I took the opportunity to sell a $125 cash-secured put expiring on Dec 15 for $80.
The trade quickly hit my 50% target zone, but I felt the position had more room to run, and updated my private community accordingly.
2 weeks later, I paid $19 to close the trade, resulting in a realised profit of $61 or 76% of max profit.
This makes it 6 wins in 6 trades for ABBV - for a total realised profit of $549 in 2023.
Although I'm usually pretty consistent with closing trades at 50% profit, there are times when the market seems like it wants to run a little, and I'm happy to let it.
Worst case, the position turns around and I close it right back for 50% profit anyway - no biggie.
My last ABBV trade in this portfolio was back in July, with $42 in realised profit.
You can read the full details of the trade at the link below.
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This article is for educational purposes only. This is my own portfolio which is being managed according to my goals and risk tolerance. Your situation is likely different and you should do your own due diligence before investing in stocks or options.
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