Kroger Co. (KR) sold off this week, but I expect shares to bounce back. I am recommending we roll our put out one week to buy ourselves some time and generate more income.
Current Stock Price: $58.43
Cash in Hand: $0.35
- Buy to close the KR Apr Monthly (4/14) 60 Put for around $1.62
- Sell to open the KR Apr Week Four (4/22) 60 Put for around $1.93
- Set initial credit limit at $0.31, but adjust as needed to close today
New Cash in Hand: $0.66