I am recommending we roll our expiring positions in Chewy (CHWY), General Motors (GM) and SPDR S&P Biotech ETF (XBI).
CHWY Apr Monthly (4/16) 82 Put
Current Stock Price: $85.68
Net Debit: $2.71
Action:
- Buy to close the CHWY Apr Monthly (4/16) 82 Put for around $0.15
- Sell to open the CHWY Apr Week Four (4/23) 83 Put for around $1.29
- Set initial credit limit at $1.14
New Net Debit: $1.57
GM Jan Monthly (1/21/22) 50/Apr Monthly (4/16) 61 Call Spread
Note: No action is needed on the GM Jan Monthly (1/21/22) 50 Call at this time.
Current Stock Price: $58.84
Cost Basis: $12.64
Action:
- Buy to close the GM Apr Monthly (4/16) 61 Call for around $0.07
- Sell to open the GM Apr Week Four (4/23) 60 Call for around $0.73
- Set initial credit limit at $0.66
New Cost Basis: $11.98
XBI Apr Monthly (4/16) 135 Put
Current Stock Price: $133.87
Cash in Hand: $1.95
Action:
- Buy to close the XBI Apr Monthly (4/16) 135 Put for around $1.87
- Sell to open the XBI Apr Week Four (4/23) 135 Put for around $3.22
- Set initial credit limit at $1.35
New Cash in Hand: $3.30