Sell to close the August 18, 2017, put on Sturm, Ruger & Company (RGR) with a strike price of $60 at $4.60 or higher. Symbol (RGR170818P60)

These puts have doubled in the ten trading days since we initiated the position. Although I think the stock will fall further, I know better than to ignore a 100% gain in less than 10 days!

These options are fairly illiquid so give a bit of latitude in your limit price. I usually suggest $.05 if you don’t get filled within a day but in this situation, you might think about lowering your limit by $.10 if not filled in a day.

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