Our Salesforce (CRM) spread is on target to expire worthless, allowing us to book the maximum profit.
I am recommending we roll our Kroger Co. (KR) put out one week to avoid assignment and generate more income.
CRM Nov Week Two (11/12) 290/280 Put Spread
Current Stock Price: $302.72
Cash in Hand: $0.27
Action: Watch spread expire worthless
Profit: $0.27, or $27 per spread
KR Nov Week Two (11/12) 43 Put
Current Stock Price: $42.20
Cash in Hand: $0.68
- Buy to close the KR Nov Week Two (11/12) 43 Put for around $0.83
- Sell to open the KR Nov Monthly (11/19) 43 Put for around $1.05
- Set initial credit limit at $0.22, but adjust as needed to roll today
New Cash in Hand: $0.90