Our Expedia (EXPE) bull put spread is deep in the money. Let’s roll it now to avoid assignment. We will be lowering the strikes significantly.
Current Stock Price: $98.61
Net Debit: $1.28
Action:
- Buy to close the EXPE Jun Monthly (6/17) 115 Put for around $16.85
- Sell to close the EXPE Jun Monthly (6/17) 110 Put for around $11.75
- Set initial debit limit at $5.10, but adjust as needed to close today
- Sell to open the EXPE Jul Monthly (7/15) 85 Put for around $2.36
- Buy to open the EXPE Jul Monthly (7/15) 80 Put for around $1.54
- Set initial credit limit at $0.82, but adjust as needed to enter today
New Net Debit: $5.56