Sell to close the the November 16, 2018 put on Allergan (NYSE: AGN) with a strike price of $185 at $8.50 or higher for a 31% gain. Symbol (AGN181116P185)

I am still interested in Allergan as a short idea but like to book the gain in these options if and when they present themselves.

Allergan has dropped with the market rout and healthcare getting hit particularly hard yesterday. Book the gain and we’ll look at re-entering the trade at a future date.

I realize the market is bouncing today but am attempting to get trade alerts out early so that subs can receive them on a timely basis. Allergan is not trading up before the open but I expect it will rise a bit with the market. I’ve placed the stop on this trade $.50 lower than the last trade to adjust for an expected bounce.

As always, my limits are suggested prices. 

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