Airbnb (ABNB) is rallying today but our put remains in the money. I am recommending we roll it out a week to avoid assignment and buy time for the stock to recover.
Current Stock Price: $117.72
Cash in Hand: $2.23
Action:
- Buy to close the ABNB Mar Monthly (3/17) 125 Put for around $7.70
- Sell to open the ABNB Mar Week Four (3/24) 125 Put for around $8.20
- Set initial credit limit at $0.50, but adjust as needed to roll today
New Cash in Hand: $2.73