I am recommending we roll our Walt Disney (DIS) put out one week and to a lower strike price to reduce our risk and buy time for the stock to move higher.
Current Stock Price: $102.03
Net Debit: $15.73
- Buy to close the DIS May Week Four (5/27) 103 Put for around $1.90
- Sell to open the DIS Jun Week One (6/3) 101 Put for around $1.90
- Set initial credit limit at $0, but adjust as needed to roll today
New Net Debit: $15.73