Walgreens Boots Alliance (WBA) has rallied nearly 18% over the past four weeks, due in part to the company reporting better-than-expected revenue and earnings. With the stock showing renewed signs of life, I want to sell a put to reduce our net debit on the position.
You can enter 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: $35.96
Net Debit: $9.07
Action: Sell to open the WBA Nov Monthly (11/18) 35 Put for around $0.57, but adjust as needed to sell a put today
New Net Debit: $8.50