Walt Disney (DIS) is up around 13% since the company reported a positive earnings surprise a week ago. I am recommending we roll our put out two weeks to generate more income and reduce our net debit on the position.
Current Stock Price: $122.58
Net Debit: $15.82
Action:
- Buy to close the DIS Aug Monthly (8/19) 120 Put for around $0.14
- Sell to open the DIS Sep Week One (9/2) 120 Put for around $1.69
- Set initial credit limit at $1.55, but adjust as needed to roll today
New Net Debit: $14.27