We temporarily closed our bull put spreads in Goldman Sachs (GS), SPDR S&P Regional Banking ETF (KRE) and Micron Technology (MU) instead of rolling them.
With the Fed announcement behind us, I am recommending new spreads to reduce our net debits on the positions.
You can enter today’s trades even if you were not in the previous ones. Just be aware that we will be managing and tracking them based on the ongoing positions.
If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trades.
GS
Current Stock Price: $309.35
Net Debit: $0.86
Action:
- Sell to open the GS May Monthly (5/20) 280 Put for around $2.04
- Buy to open the GS May Monthly (5/20) 275 Put for around $1.63
- Set initial credit limit at $0.41, but adjust as needed to sell a spread today
New Net Debit: $0.45
KRE
Current Stock Price: $62.60
Net Debit: $1.38
Action:
- Sell to open the KRE May Week Monthly (5/20) 59 Put for around $0.71
- Buy to open the KRE May Week Monthly (5/20) 54 Put for around $0.15
- Set initial credit limit at $0.56 but adjust as needed to sell a spread today
New Net Debit: $0.82
MU
Current Stock Price: $71.10
Net Debit: $2.22
Action:
- Sell to open the MU May Week Monthly (5/20) 65 Put for around $1.13
- Buy to open the MU May Week Monthly (5/20) 60 Put for around $0.44
- Set initial credit limit at $0.69, but adjust as needed to sell a spread today
New Net Debit: $1.53