Last summer I recommended buying LEAPS, or long-term call options, on Broadcom (NSDQ: AVGO) and Lam Research (NSDQ: LRCX). At the time, both stocks appeared undervalued, according to my IDEAL stock-rating system, and since then each has appreciated roughly 40%, confirming my analysis. I still like both companies, but I am going to close out these positions to lock in huge gains.

In the case of Broadcom, I recommended the LEAPS with a strike price of $175 that expire in January 2018. That option now trades near $55, which equates to a 150% gain over the $22 purchase price last July. As for Lam Research, I recommended the LEAPS with a strike price of $95 that also expires in January 2018. That option is currently priced at $30, which represents a 200% profit over our $10 entry price.

To be clear, both companies still earn above-average IDEAL scores despite their jump in value over the past nine months and should continue to do well under Trump’s pro-growth agenda. Nevertheless, given the time remaining on these options, I believe any potential additional gain from holding onto them isn’t worth the risk. Pretty soon the time premium for both will begin to erode at an accelerating pace, and if a stock market correction occurs in the interim, then the LEAPS could depreciate quickly.

Sell the January 2018 LEAPS for Broadcom and Lam Research for gains of 150% and 200%, respectively.