I am recommending we roll our Best Buy (BBY) and First Solar (FSLR) puts out two weeks to generate more income and reduce our net debits on the positions.
You can enter the second leg of today’s trades even if you were not in the previous ones. Just be aware that we will be managing and tracking them based on the ongoing positions.
BBY Aug Week Four (8/26) 75 Put
Current Stock Price: $78.81
Net Debit: $19.86
Action:
- Buy to close the BBY Aug Week Four (8/26) 75 Put for around $0.37
- Sell to open the BBY Sep Week Two (9/9) 75 Put for around $2.27
- Set initial credit limit at $1.90, but adjust as needed to roll today
New Net Debit: $17.96
FSLR Aug Week Four (8/26) 110 Put
Current Stock Price: $115.97
Net Debit: $8.09
Action:
- Buy to close the FSLR Aug Week Four (8/26) 110 Put for around $0.50
- Sell to open the FSLR Sep Week Two (9/9) 110 Put for around $2.24
- Set initial credit limit at $1.74, but adjust as needed to roll today
New Net Debit: $6.35