I am recommending we roll our Expedia (EXPE) put out one week and to a lower strike to avoid assignment and reduce our risk on the trade.
Current Stock Price: $89.25
Net Debit: $3.68
Action:
- Buy to close the EXPE May Week Two (5/12) 92 Put for around $2.75
- Sell to open the EXPE May Monthly (5/19) 91 Put for around $2.65
- Set initial debit limit at $0.10, but adjust as needed to roll today
New Net Debit: $3.78