With the Federal Reserve announcement behind us, I am recommending a new JPMorgan Chase (JPM) put to reduce our net debit on the position.
You can enter today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $123.35
Net Debit: $1.23
Action: Sell to open the JPM May Week Two (5/13) 120 Put
Current Option Price: $1.30 – 1.39
Recommended Limit: Sell your initial limit order at $1.33 but adjust as needed to sell a put today.
Expiration: After the close on Friday, May 13
New Cash in Hand: $0.10