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
- 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