The protective put I recommended on First Solar (FSLR) is below the price we paid for it following the market’s pop and drop. I want to keep our hedge in place.
Therefore, I am recommending you roll the purchased put out one week and to a lower strike for a debit. Doing so could pay off handsomely if the market continues to sell off over the next few days.
Note: No action is needed on the FSLR Jun Monthly (6/17) 71 Put at this time.
Current Stock Price: $62.01
Net Debit: $13.76
- Sell to close the FSLR Jun Monthly (6/17) 62 Put for around $1.07
- Buy to open the FSLR Jun Week Four (6/24) 60 Put for around $1.33
- Set initial debit limit at $0.26, but adjust as needed to roll today
New Net Debit: $14.02