I am recommending we roll our Pfizer (PFE) put out one week and to a higher strike to generate more income and reduce our net debit on the position.
You can enter the second leg of today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it as ongoing position.
Current Stock Price: $53.16
Net Debit: $3.14
- Buy to close the PFE May Week Four (5/27) 50 Put for around $0.06
- Sell to open the PFE Jun Week One (6/3) 52 Put for around $0.57
- Set initial credit limit at $0.51, but adjust as needed to roll today
New Net Debit: $2.63