Our Goldman Sachs (GS) bull put spread is on track to expire worthless. We will simply watch it do so.
The top legs of our SPDR S&P Regional Banking ETF (KRE) and Micron Technology (MU) spreads are too close to the money for comfort in this kind of market. Let’s spend a few cents to close them now and watch the bottom legs expire worthless.
I will recommend new spreads on all three names soon to reduce our net debits on the positions.
GS May Monthly (5/20) 280/275 Put Spread
Current Stock Price: $309.74
Net Debit: $0.45
Action: Watch spread expire worthless
KRE May Monthly (5/20) 59/54 Put Spread
Current Stock Price: $59.94
Net Debit: $0.82
Action:
- Buy to close the KRE May Monthly (5/20) 59 Put for around $0.10, but adjust as needed to close today
- Watch the KRE May Monthly (5/20) 54 Put expire worthless
New Net Debit: $0.92
MU May Monthly (5/20) 65/60 Put Spread
Current Stock Price: $68.71
Net Debit: $1.53
Action:
- Buy to close the MU May Monthly (5/20) 65 Put for around $0.04, but adjust as needed to close today
- Watch the MU May Monthly (5/20) 60 Put expire worthless
New Net Debit: $1.57