Our Advanced Micro Devices (AMD) put is on track to expire worthless, allowing us to book the maximum profit.Crocs (CROX) has exploded higher following a terrific earnings report. I am recommending we sell a November put to collect a giant premium. The cash we generate will significantly reduce our net debit on the position.
However, you can sell today’s put even if you were not in the previous position. Just be aware that we will be managing and tracking it based on the ongoing position.
AMD Oct Week Four (10/22) 114 Put
Current Stock Price: $119.45
Cash in Hand: $1.05
Action: Watch put expire worthless
Profit: $1.05, or $105 per contract
CROX
Current Stock Price: $153.55
Net Debit: $6.60
Action: Sell to open the CROX Nov Monthly (11/19) 145 Put for around $3.90, but adjust as needed to sell a put today
New Net Debit: $2.70