I am recommending we roll our Pfizer (PFE) put out two weeks to avoid potential assignment, generate more income and reduce our net debit on the position.
Current Stock Price: $49.09
Net Debit: $1.79
- Buy to close the PFE Aug Monthly (8/19) 50 Put for around $0.97
- Sell to open the PFE Sep Week One (9/2) 50 Put for around $1.47
- Set your initial credit limit at $0.50, but adjust as needed to roll today
New Net Debit: $1.29