Advanced Micro Devices (AMD) has bounced around for the past two weeks and our AMD Mar Week One (3/4) 132 Put remains deep in the money. I am recommending we accept shares rather than continue to roll it.
We have a large amount of cash in hand, which will greatly reduce our cost basis on the position. And I will recommend a call to sell against the shares soon to further reduce that cost basis as we work our way back toward breakeven.
Current Stock Price: 109.61
Cash in Hand: $8.43 (Note: This was incorrectly listed as $8.53 in the previous alert.)
Action: Accept shares
Cost Basis: $123.57