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First trade, one contract of AXP Jan '16 $75 puts. Purchased at $3.23 two weeks ago. Now what? The stock is trading at $74.25, so it's up a $1.10 or so since I bought. This impacts the price of the Put value negatively. I noticed my account value went up when I bought the puts due to the sell to open action. The put value is down 16% since I purchased. Why wouldn't I just buy to close the puts at around the 3.23 price and be happy with the money made on the Sell to Open action? The guidance is for AXP to drop over the next few months. Since I have purchased it's trickled up.

Help me understand the strategy a little more.
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