I am recommending we roll out D.R. Horton (DHI) put to buy time for the stock to recover.
I am also recommending we roll our Corning (GLW) and SPDR S&P Regional Banking ETF (KRE) calls out two weeks.
Finally, our Yeti Holdings (YETI) put is deep in the money. Let’s accept shares and we will sell a call against them soon.
DHI Oct Week One (10/1) 88 Put
Current Stock Price: $83.93
Cash in Hand: $1.21
Action:
- Buy to close the DHI Oct Week One (10/1) 88 Put for around $4.10
- Sell to open the DHI Oct Week Two (10/8) 88 Put for around $4.30
- Set initial credit limit at $0.20
New Cash in Hand: $1.41
GLW Oct Week One (10/1) 38 Call
Current Stock Price: $36.78
Cost Basis: $38.35
Action:
- Buy to close the GLW Oct Week One (10/1) 38 Call for around $0.02
- Sell to open the GLW Oct Monthly (10/15) 37 Call for around $0.66
- Set initial credit limit at $0.64
New Cost Basis: $37.71
KRE Oct Week One (10/1) 65 Call
Current Stock Price: $68.91
Cost Basis: $65.13
Action:
- Buy to close the KRE Oct Week One (10/1) 65 Call for around $3.90
- Sell to open the KRE Oct Monthly (10/15) 66 Call for around $3.55
- Set initial debit limit at $0.35
New Cost Basis: $65.48
YETI Oct Week One (10/1) 96 Put
Current Stock Price: $86.29
Cash in Hand: $1.05
Action: Accept shares
Cost Basis: $94.95