We have expiring positions in JPMorgan Chase (JPM) and Micron Technology (MU).
I am recommending we close our JPM standalone put and bull put spread. The bank is scheduled to announce earnings next week. We will carry over our net debit and enter new positions after the announcement.
Our MU put is in the money. Let’s accept shares and I will recommend a call to sell soon. And let’s close the MU spread as well. We will carry over the net debit and sell another spread soon.
JPM Apr Week Two (4/8) 134 Put
Current Stock Price: $132.31
Cash in Hand: $0.88
Action: Buy to close the JPM Apr Week Two (4/8) 134 Put for around $1.80, but adjust as needed to close today
Net Debit: $0.92
JPM Apr Week Two (4/8) 132/129 Put Spread
Cash in Hand: $0.29
Action:
- Buy to close the JPM Apr Week Two (4/8) 132 Put for around $0.43
- Sell to close the JPM Apr Week Two (4/8) 127 Put for around $0.02
- Set initial debit limit at $0.41, but adjust as needed to close today
Net Debit: $0.12
MU Apr Week Two (4/8) 79 Put
Current Stock Price: $72.01
Cash in Hand: $1.35
Action: Accept shares
Cost Basis: $77.65
MU Apr Week Two (4/8) 75/70 Put Spread
Cash in Hand: $0.30
Action:
- Buy to close the MU Apr Week Two (4/8) 75 Put for around $2.96
- Sell to close the MU Apr Week Two (4/8) 70 Put for around $0.04
- Set initial debit limit at $2.92, but adjust as needed to close today
Net Debit: $2.62