The protective put we purchased on Taiwan Semiconductor Manufacturing (TSM) is on track to expire worthless. We will simply watch it do so.
By rolling our hedge, we were able to reduce our cost basis on the position by $4.84 ($6.08 in profit booked minus $1.24 initial cost of hedge).
Note: No action is needed on the TSM Jan 2023 (1/20/23) 70/Oct Week Two (10/14) 73 Call Spread at this time.
Cost Basis $99.67
Action: Watch the TSM Oct Week One (10/7) 65 Puts expire worthless