I am recommending we once more roll the protective put of our Apple (AAPL) LEAP call spread down to a lower strike. This will allow us to reduce our cost basis on the position while keeping our hedge in place.
Note: No action is needed on the AAPL Jun 2023 (6/16/23) 100/Jun Monthly (6/17) 150 Call Spread at this time.
Current Stock Price: $132.94
Cost Basis: $48.11
- Sell to close the AAPL Jun Monthly (6/17) 135 Put for around $4.25
- Buy to open the AAPL Jun Monthly (6/17) 125 Put for around $0.92
- Set initial credit limit at $3.33, but adjust as needed to roll today
New Cost Basis: $44.78