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Income Madness Trade Alert: CRM

Salesforce (CRM) has been hit hard. Given the uncertainty in the market, and the tech sector in particular, I am recommending we close the position at a loss rather than attempting to roll.

Spreads are wide, so work your limit order to exit as soon as possible.

Current Stock Price: $211.42

Cash in Hand: $0.37

Action:

  • Buy to close the CRM Jan Week Four (1/28) 215 Put for around $4.30
  • Sell to close the CRM Jan Week Four (1/28) 210 Put for around $1.66
  • Set initial debit limit at $2.64, but adjust as needed to close today

Loss: $2.27, or $227 per spread

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