I am recommending we roll our Pfizer (PFE) put out two weeks to generate more income and reduce our net debit on the position.
Current Stock Price: $49.63
Net Debit: $2.39
- Buy to close the PFE Aug Week One (8/5) 50 Put for around $0.63
- Sell to open the PFE Aug Monthly (8/19) 50 Put for around $1.23
- Set your initial credit limit at $0.60, but adjust as needed to roll today
New Net Debit: $1.79