I am recommending we close our Apple (AAPL) and Microsoft (MSFT) bull put spreads rather than risk holding through expiration. We’re closing AAPL at a loss and MSFT at a small profit.
AAPL Mar Week Two (3/11) 155/150 Put Spread
Current Stock Price: $157.16
Net Debit: $0.43
Action:
- Buy to close the AAPL Mar Week Two (3/11) 155 Put for around $0.71
- Sell to close the AAPL Mar Week Two (3/11) 150 Put for around $0.12
- Set initial debit limit at $0.59, but adjust as needed to close today
Loss: $1.02, or $102 per spread
MSFT Mar Week Two (3/11) 275/270 Put Spread
Current Stock Price: $283.93
Cash in Hand: $0.36
Action:
- Buy to close the MSFT Mar Week Two (3/11) 275 Put for around $0.39
- Sell to close the MSFT Mar Week Two (3/11) 270 Put for around $0.14
- Set initial debit limit at $0.25, but adjust as needed to close today
Profit: $0.11, or $11 per spread