I am recommending we roll our Best Buy (BBY) put out two weeks to generate more income and reduce our net debit on the position.
You can enter the second leg of today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $77.61
Net Debit: $21.65
- Buy to close the BBY Aug Week One (8/5) 75 Put for around $0.18
- Sell to open the BBY Aug Monthly (8/19) 75 Put for around $1.59
- Set initial credit limit at $1.41, but adjust as needed to roll today
New Net Debit: $20.24