Expedia (EXPE) briefly dipped below $90 last week before rebounding back to the mid-$90s. Our spread expired worthless last week, so I am recommending another one to reduce our net debit on the position. The top leg is more than 8% out of the money.
You can enter today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trade.
Current Stock Price: $96.27
Net Debit: $5.56
- Sell to open the EXPE Jul Week Five (7/29) 88 Put for around $0.90
- Buy to open the EXPE Jul Week Five (7/29) 83 Put for around $0.34
- Set initial credit limit at $0.56, but adjust as needed to open a spread today
New Net Debit: $5