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Income Madness Trade Alert: MSFT

Our Microsoft (MSFT) bull put spread is trading well out of the money, but this is not the kind of market where you want to take anything for granted.

Therefore, I am recommending we buy back the top leg of the spread for a few cents and leave the bottom leg in place to (very likely) expire worthless.

I will recommend a new spread on the stock soon to continue to work off our net debit on the position.

Current Stock Price: $264.96

Net Debit: $1.32

Action:

  • Buy to close the MSFT May Week Four (5/27) 230 Put for around $0.02
  • Watch the MSFT May Week Four (5/27) 220 Put expire worthless

New Net Debit: $1.34

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