I am recommending we roll our Pfizer (PFE) put out one week and to a higher strike price 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 based on the ongoing position.
Current Stock Price: $47.27
Net Debit $4.30
- Buy to close the PFE Nov Week Two (11/11) 46 Put for around $0.12
- Sell to open the PFE Nov Monthly (11/18) 47 Put for around $0.68
- Set your initial credit limit at $0.56, but adjust as needed to roll today
New Net Debit: $3.74