I am recommending we roll our General Motors (GM) put out one week and to a lower strike.
Current Stock Price: $57.54
Cash in Hand: $1.49
- Buy to close the GM Apr Week One (4/1) 57.50 Put for around $0.61
- Sell to open the GM Apr Week Two (4/9) 57 Put for around $1.17
- Set initial credit limit at $0.56
New Cash in Hand: $2.05