I am recommending we temporarily close our Goldman Sachs (GS), SPDR S&P Regional Banking ETF (KRE) and Micron Technology (MU) bull put spreads rather than roll them.
We will carry over net debits and I will recommend new spreads on these names soon.
GS Apr Week Five (4/29) 315/310 Put Spread
Current Stock Price: $315.06
Cash in Hand: $0.41
Action:
- Buy to close the GS Apr Week Five (4/29) 315 Put for around $1.73
- Sell to close the GS Apr Week Five (4/29) 310 Put for around $0.46
- Set initial debit limit at $1.27, but adjust as needed to close today
New Net Debit: $0.86
KRE Apr Week Five (4/29) 65/62.50 Put Spread
Current Stock Price: $63.20
Cash in Hand: $0.20
Action:
- Buy to close the KRE Apr Week Five (4/29) 65 Put for around $1.74
- Sell to close the KRE Apr Week Five (4/29) 62.50 Put for around $0.16
- Set initial debit limit at $1.58, but adjust as needed to close today
New Net Debit: $1.38
MU Apr Week Five (4/29) 65 Put Spread
Note: No action is needed on the MU May Week Two (5/13) 69 Call at this time.
Current Stock Price: $70.09
Net Debit: $2.20
Action:
- Buy to close the MU Apr Week Five (4/29) 65 Put for around $0.02
- Watch the MU Apr Week Five (4/29) 60 Put expire worthless
- Set initial debit limit at $0.02, but adjust as needed to close today
New Net Debit: $2.22