We have net debits on Apple (AAPL), Lululemon Athletica (LULU) and Roku (ROKU) from ongoing spread positions. I am recommending we initiate new spreads today to reduce those net debits.
You can enter today’s spreads even if you were not in the previous trades. Just be aware that we will be tracking them as ongoing positions.
If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trades.
I am also recommending we book profits on our McDonald’s (MCD) and Thermo Fisher Scientific (TMO) spreads.
AAPL
Current Stock Price: $444.90
Net Debit: $0.21
Action:
- Sell to open the AAPL Aug Monthly (8/21) 410 Put for around $1.91
- Buy to open the AAPL Aug Monthly (8/21) 405 Put for around $1.49
- Set initial credit limit at $0.42
New Cash in Hand: $0.21
LULU
Current Stock Price: $335.82
Net Debit: $3.51
Action:
- Sell to open the LULU Aug Monthly (8/21) 310 Put for around $2.07
- Buy to open the LULU Aug Monthly (8/21) 305 Put for around $1.46
- Set initial credit limit at $0.61
New Net Debit: $2.90
MCD Aug Week One (8/7) 190/185 Put Spread
Current Stock Price: $202.80
Cash in Hand: $0.43
Action:
- Buy to close the MCD Aug Week One (8/7) 190 Put for around $0.04
- Sell to close the MCD Aug Week One (8/7) 185 Put for around $0.02
- Set initial debit limit at $0.02
Profit: $0.41, or $41 per spread
ROKU
Current Stock Price: $152.87
Net Debit: $3.29
Action:
- Sell to open the ROKU Aug Monthly (8/21) 140 Put for around $2.60
- Buy to open the ROKU Aug Monthly (8/21) 135 Put for around $1.67
- Set initial credit limit at $0.93
New Net Debit: $2.36
TMO Aug Monthly (8/21) 370/360 Put Spread
Current Stock Price: $410.74
Cash in Hand: $0.75
Action:
- Buy to close the TMO Aug Monthly (8/21) 370 Put for around $1.20
- Sell to close the TMO Aug Monthly (8/21) 360 Put for around $0.88
- Set initial debit limit at $0.32
Profit: $0.43, or $43 per spread