Our Microsoft (MSFT) bull put spread is well out of the money and on track to expire worthless. However, we’re going to play it safe and spend a penny to close the top leg.
We were deep underwater on the positions at one point. But by using an active rolling strategy, we are managing to walk away with a tiny profit.
Current Stock Price: $263.50
Cash in Hand: $0.07
- Buy to close the MSFT Jun Week Four (6/24) 252.50 Put for around $0.01
- Watch the MSFT Jun Week Four (6/24) 245 Put expire worthless
Profit: $0.06, or $6 per spread